Cwm LLC Reduces Stake in Affiliated Managers Group, Inc. $AMG

Cwm LLC cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,486 shares of the asset manager’s stock after selling 237 shares during the quarter. Cwm LLC’s holdings in Affiliated Managers Group were worth $1,276,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Clarkston Capital Partners LLC boosted its stake in shares of Affiliated Managers Group by 0.8% in the first quarter. Clarkston Capital Partners LLC now owns 1,585,324 shares of the asset manager’s stock worth $266,382,000 after buying an additional 13,135 shares during the last quarter. Millennium Management LLC lifted its holdings in Affiliated Managers Group by 314.3% in the first quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock valued at $212,668,000 after acquiring an additional 960,158 shares during the period. LSV Asset Management boosted its position in Affiliated Managers Group by 10.4% in the 1st quarter. LSV Asset Management now owns 468,084 shares of the asset manager’s stock worth $78,652,000 after purchasing an additional 44,090 shares in the last quarter. Northern Trust Corp grew its stake in shares of Affiliated Managers Group by 10.2% during the 1st quarter. Northern Trust Corp now owns 385,292 shares of the asset manager’s stock worth $64,741,000 after purchasing an additional 35,681 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Affiliated Managers Group by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 232,981 shares of the asset manager’s stock worth $39,149,000 after purchasing an additional 5,685 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.20% of the company’s stock.

Affiliated Managers Group Trading Up 3.3%

Shares of AMG stock opened at $243.32 on Tuesday. The stock has a market cap of $6.91 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 0.60 and a beta of 1.21. The company’s 50-day moving average price is $232.70 and its 200-day moving average price is $201.33. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $250.15.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $506.46 million. During the same period in the prior year, the business posted $4.67 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Wall Street Analyst Weigh In

AMG has been the topic of a number of recent analyst reports. Barrington Research increased their price target on shares of Affiliated Managers Group from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Finally, Bank of America boosted their price target on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.60.

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.