Wealth Enhancement Advisory Services LLC Reduces Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Wealth Enhancement Advisory Services LLC lowered its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 14.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,236 shares of the asset manager’s stock after selling 529 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Affiliated Managers Group were worth $575,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Altshuler Shaham Ltd bought a new position in Affiliated Managers Group during the 2nd quarter valued at about $28,000. UMB Bank n.a. boosted its position in shares of Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after buying an additional 154 shares during the period. Daiwa Securities Group Inc. purchased a new position in shares of Affiliated Managers Group during the second quarter valued at approximately $47,000. Goodman Advisory Group LLC bought a new position in shares of Affiliated Managers Group during the second quarter valued at approximately $50,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Affiliated Managers Group by 2,530.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 789 shares of the asset manager’s stock worth $140,000 after buying an additional 759 shares during the period. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

AMG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $226.00 to $177.00 in a research note on Tuesday. Bank of America lifted their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Barrington Research dropped their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $195.50.

Insider Activity

In related news, insider Rizwan M. Jamal sold 8,622 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have 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 1.6 %

Shares of AMG stock opened at $183.17 on Friday. Affiliated Managers Group, Inc. has a twelve month low of $129.57 and a twelve month high of $199.52. The stock has a fifty day simple moving average of $180.92 and a two-hundred day simple moving average of $169.03. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 0.57 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same quarter in the previous year, the firm earned $4.08 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. Research analysts predict that Affiliated Managers Group, Inc. will post 22.02 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

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.