XTX Topco Ltd Trims Stake in Affiliated Managers Group, Inc. $AMG

XTX Topco Ltd decreased its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 18.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,013 shares of the asset manager’s stock after selling 2,682 shares during the quarter. XTX Topco Ltd’s holdings in Affiliated Managers Group were worth $2,364,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMG. Prudential Financial Inc. increased its holdings in Affiliated Managers Group by 10.0% in the 2nd quarter. Prudential Financial Inc. now owns 3,256 shares of the asset manager’s stock worth $615,000 after buying an additional 296 shares in the last quarter. American Century Companies Inc. raised its position in shares of Affiliated Managers Group by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after purchasing an additional 104 shares during the period. AlphaCore Capital LLC bought a new position in shares of Affiliated Managers Group in the second quarter worth about $49,000. Entropy Technologies LP purchased a new stake in Affiliated Managers Group during the 2nd quarter valued at approximately $981,000. Finally, Magnetar Financial LLC bought a new stake in Affiliated Managers Group in the 2nd quarter valued at $285,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Bank of America upped their price target on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $290.33.

Insider Activity at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the sale, the chief operating officer directly owned 158,710 shares in the company, valued at $36,666,771.30. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is owned by insiders.

Affiliated Managers Group Stock Up 0.8%

Shares of Affiliated Managers Group stock opened at $268.13 on Thursday. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $271.48. The firm’s 50 day moving average price is $245.85 and its 200-day moving average price is $218.32. The company has a market cap of $7.54 billion, a P/E ratio of 19.57, a PEG ratio of 0.61 and a beta of 1.25.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. During the same period in the prior year, the firm posted $4.82 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.