Custom Index Systems LLC Raises Stock Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Custom Index Systems LLC lifted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 79.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,196 shares of the asset manager’s stock after purchasing an additional 2,307 shares during the period. Custom Index Systems LLC’s holdings in Affiliated Managers Group were worth $924,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Ariel Investments LLC lifted its holdings in Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after buying an additional 115,808 shares during the period. Victory Capital Management Inc. raised its position in shares of Affiliated Managers Group by 150.1% in the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after acquiring an additional 59,659 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Affiliated Managers Group by 36.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock valued at $29,731,000 after purchasing an additional 47,239 shares during the period. Algert Global LLC boosted its position in shares of Affiliated Managers Group by 74.8% during the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock valued at $13,944,000 after purchasing an additional 38,206 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Affiliated Managers Group by 59.1% in the second quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager’s stock worth $14,092,000 after purchasing an additional 33,500 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of AMG stock traded up $1.28 during mid-day trading on Friday, hitting $191.35. The company’s stock had a trading volume of 157,952 shares, compared to its average volume of 241,069. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.58 and a beta of 1.20. Affiliated Managers Group, Inc. has a 52-week low of $121.56 and a 52-week high of $196.69. The business has a 50-day moving average price of $178.01 and a 200 day moving average price of $167.37.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. The firm had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.45 earnings per share. Equities research analysts predict that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group’s payout ratio is currently 0.22%.

Analyst Ratings Changes

Several brokerages have commented on AMG. Deutsche Bank Aktiengesellschaft raised their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Barrington Research boosted their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. TD Cowen raised their price objective on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Bank of America boosted their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Affiliated Managers Group has an average rating of “Moderate Buy” and a consensus target price of $210.50.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction on Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by insiders.

Affiliated Managers Group 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.