Amundi Purchases 218 Shares of Affiliated Managers Group, Inc. $AMG

Amundi raised its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,542 shares of the asset manager’s stock after purchasing an additional 218 shares during the period. Amundi owned about 0.07% of Affiliated Managers Group worth $3,247,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of AMG. Millstone Evans Group LLC raised its position in Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 102 shares in the last quarter. Versant Capital Management Inc raised its position in Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Affiliated Managers Group during the 1st quarter valued at $36,000. Private Trust Co. NA raised its position in Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after purchasing an additional 83 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in Affiliated Managers Group during the 1st quarter valued at $56,000. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMG. Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Barrington Research reiterated an “outperform” rating and issued a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Bank of America upgraded Affiliated Managers Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $236.00 to $331.00 in a report on Tuesday, September 2nd. The Goldman Sachs Group upgraded Affiliated Managers Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $197.00 to $218.00 in a report on Friday, June 27th. Finally, Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group has an average rating of “Buy” and an average target price of $242.40.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $236.19 on Friday. The stock has a 50-day moving average of $216.41 and a two-hundred day moving average of $187.21. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $237.18. The stock has a market cap of $6.71 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.61 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, topping analysts’ consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company had revenue of $493.20 million during the quarter, compared to analysts’ expectations of $506.46 million. During the same quarter in the previous year, the firm posted $4.67 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. Analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.29%.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.20% of the company’s stock.

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.