Affiliated Managers Group, Inc. $AMG Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 15,927 shares of the asset manager’s stock after selling 811 shares during the quarter. Carnegie Investment Counsel’s holdings in Affiliated Managers Group were worth $3,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in Affiliated Managers Group by 18.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock worth $9,028,000 after acquiring an additional 8,361 shares during the period. Private Trust Co. NA lifted its holdings in shares of Affiliated Managers Group by 38.1% in the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after buying an additional 83 shares during the period. XTX Topco Ltd lifted its holdings in shares of Affiliated Managers Group by 189.9% in the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager’s stock valued at $2,469,000 after buying an additional 9,626 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Affiliated Managers Group by 52.2% in the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock valued at $4,823,000 after buying an additional 9,845 shares during the period. Finally, Goodman Financial Corp lifted its holdings in shares of Affiliated Managers Group by 1.6% in the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock valued at $13,578,000 after buying an additional 1,301 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 158,710 shares in the company, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.20% of the company’s stock.

Affiliated Managers Group Stock Up 0.7%

Shares of Affiliated Managers Group stock opened at $240.58 on Friday. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $250.15. The business has a 50-day moving average price of $234.09 and a 200 day moving average price of $203.15. The firm 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.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 EPS 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 previous year, the business earned $4.67 EPS. Affiliated Managers Group’s quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Friday. Barrington Research boosted their price objective on Affiliated Managers Group from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Bank of America lifted their price target on Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.