Cerebellum GP LLC lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 22.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,803 shares of the asset manager’s stock after purchasing an additional 700 shares during the quarter. Cerebellum GP LLC’s holdings in Affiliated Managers Group were worth $350,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Davy Asset Management Ltd bought a new stake in Affiliated Managers Group in the second quarter valued at about $625,000. FDx Advisors Inc. increased its holdings in Affiliated Managers Group by 22.9% in the second quarter. FDx Advisors Inc. now owns 2,466 shares of the asset manager’s stock valued at $227,000 after purchasing an additional 460 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Affiliated Managers Group by 19.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,208 shares of the asset manager’s stock valued at $1,586,000 after purchasing an additional 2,800 shares during the last quarter. Integrated Investment Consultants LLC increased its holdings in Affiliated Managers Group by 28.0% in the second quarter. Integrated Investment Consultants LLC now owns 2,400 shares of the asset manager’s stock valued at $221,000 after purchasing an additional 525 shares during the last quarter. Finally, OLD National Bancorp IN increased its holdings in Affiliated Managers Group by 9.2% in the second quarter. OLD National Bancorp IN now owns 9,106 shares of the asset manager’s stock valued at $839,000 after purchasing an additional 766 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on AMG shares. Bank of America set a $20.00 target price on Fiat Chrysler Automobiles and gave the company a “hold” rating in a research note on Thursday, June 6th. Barrington Research reissued a “buy” rating and issued a $135.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, April 30th. ValuEngine raised Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a research note on Wednesday, May 8th. Finally, Deutsche Bank set a €230.00 ($267.44) price objective on adidas and gave the stock a “neutral” rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Affiliated Managers Group presently has an average rating of “Hold” and a consensus target price of $123.11.
In related news, insider Jay C. Horgen purchased 11,000 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $93.19 per share, with a total value of $1,025,090.00. Following the completion of the transaction, the insider now directly owns 115,527 shares of the company’s stock, valued at approximately $10,765,961.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jide James Zeitlin sold 54,350 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $92.22, for a total value of $5,012,157.00. The disclosure for this sale can be found here. Corporate insiders own 1.43% of the company’s stock.
AMG traded up $1.73 on Tuesday, hitting $89.68. 11,984 shares of the company were exchanged, compared to its average volume of 434,180. The company has a fifty day moving average price of $89.20. The company has a market cap of $4.52 billion, a P/E ratio of 6.16, a PEG ratio of 0.64 and a beta of 1.63. Affiliated Managers Group, Inc. has a 12 month low of $83.10 and a 12 month high of $163.55.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, May 6th. The asset manager reported $3.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.27 by ($0.01). The firm had revenue of $543.10 million for the quarter, compared to the consensus estimate of $541.42 million. Affiliated Managers Group had a positive return on equity of 17.72% and a negative net margin of 4.77%. Affiliated Managers Group’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter last year, the business posted $3.92 EPS. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 13.71 EPS for the current year.
About Affiliated Managers Group
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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