Affiliated Managers Group, Inc. (NYSE:AMG) Stock Position Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,052 shares of the asset manager’s stock after selling 677 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.07% of Affiliated Managers Group worth $3,743,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC lifted its position in shares of Affiliated Managers Group by 87.1% in the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock valued at $3,103,000 after acquiring an additional 8,628 shares in the last quarter. Diversified Trust Co purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $1,293,000. Sei Investments Co. lifted its position in Affiliated Managers Group by 40.8% in the 1st quarter. Sei Investments Co. now owns 48,185 shares of the asset manager’s stock worth $8,069,000 after buying an additional 13,968 shares in the last quarter. Foundry Partners LLC purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $574,000. Finally, Asset Management One Co. Ltd. lifted its position in Affiliated Managers Group by 94.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock worth $1,884,000 after buying an additional 5,142 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 0.4 %

Shares of AMG opened at $186.42 on Friday. The company’s fifty day moving average is $182.85 and its 200-day moving average is $170.09. Affiliated Managers Group, Inc. has a 12 month low of $131.34 and a 12 month high of $199.52. The firm has a market cap of $5.56 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 0.68 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same quarter last year, the company earned $4.08 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be paid a $0.01 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is presently 0.26%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMG shares. Barrington Research cut their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Bank of America increased their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $196.50.

Insider Activity at Affiliated Managers Group

In related news, 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 value of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.90% of the stock is currently owned by company insiders.

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.