North Star Asset Management Inc. Grows Position in Affiliated Managers Group, Inc. (NYSE:AMG)

North Star Asset Management Inc. grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,015 shares of the asset manager’s stock after purchasing an additional 198 shares during the period. North Star Asset Management Inc. owned approximately 0.31% of Affiliated Managers Group worth $15,625,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMG. Foundry Partners LLC purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $574,000. Victory Capital Management Inc. increased its holdings 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 valued at $15,530,000 after purchasing an additional 59,659 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Affiliated Managers Group by 34.2% in the second quarter. National Bank of Canada FI now owns 3,157 shares of the asset manager’s stock valued at $489,000 after purchasing an additional 805 shares during the period. Allegheny Financial Group LTD grew its position in Affiliated Managers Group by 19.0% during the second quarter. Allegheny Financial Group LTD now owns 2,630 shares of the asset manager’s stock worth $411,000 after buying an additional 419 shares during the period. Finally, Convergence Investment Partners LLC boosted its stake in shares of Affiliated Managers Group by 117.7% during the 2nd quarter. Convergence Investment Partners LLC now owns 8,671 shares of the asset manager’s stock worth $1,355,000 after acquiring an additional 4,688 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 9,000 shares of the company’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 completion of the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Rizwan M. Jamal sold 8,622 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now directly owns 128,457 shares in the company, valued at $22,208,930.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. The disclosure for this sale can be found here. In the last three months, insiders sold 22,408 shares of company stock worth $3,865,068. Corporate insiders own 1.90% of the company’s stock.

Affiliated Managers Group Trading Down 2.5 %

Shares of AMG opened at $164.02 on Friday. Affiliated Managers Group, Inc. has a twelve month low of $120.22 and a twelve month high of $189.81. The firm has a market capitalization of $5.23 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 0.55 and a beta of 1.22. The stock’s fifty day simple moving average is $168.50 and its 200 day simple moving average is $162.62.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company had revenue of $500.30 million for the quarter, compared to the consensus estimate of $518.03 million. During the same period last year, the business posted $4.45 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 21.94 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barrington Research upped their price target on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, July 29th. TD Cowen increased their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Bank of America upped their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.80.

About Affiliated Managers Group

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.