Affiliated Managers Group, Inc. $AMG Shares Purchased by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 79.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 601 shares of the asset manager’s stock after acquiring an additional 266 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Affiliated Managers Group were worth $118,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC grew its stake in Affiliated Managers Group by 154.5% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 102 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Affiliated Managers Group during the 1st quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Affiliated Managers Group by 80.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock worth $45,000 after purchasing an additional 102 shares during the last quarter. American National Bank & Trust acquired a new stake in Affiliated Managers Group during the 2nd quarter worth $58,000. Finally, Private Trust Co. NA boosted its stake 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 worth $51,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMG shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Friday. TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. The Goldman Sachs Group lifted their price target on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group currently has an average rating of “Moderate Buy” and an average target price of $272.60.

Insider Transactions at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.20% of the stock is owned by company insiders.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $240.58 on Friday. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $250.15. The company has a market cap of $6.83 billion, a PE ratio of 17.56, a P/E/G ratio of 0.61 and a beta of 1.21. The business has a 50-day simple moving average of $234.09 and a 200-day simple moving average of $203.56.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data 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 business had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. During the same period in the previous year, the company posted $4.67 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

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.