MQS Management LLC Buys Shares of 2,537 Affiliated Managers Group, Inc. $AMG

MQS Management LLC bought a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,537 shares of the asset manager’s stock, valued at approximately $499,000.

A number of other large investors have also recently bought and sold shares of AMG. Millstone Evans Group LLC grew its holdings 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 buying an additional 102 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Affiliated Managers Group during the 1st quarter valued at $36,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings 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 valued at $45,000 after buying an additional 102 shares during the last quarter. Private Trust Co. NA grew its holdings 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 buying an additional 83 shares during the last quarter. Finally, Rossby Financial LCC acquired a new stake in Affiliated Managers Group during the 1st quarter valued at $56,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 0.7%

Shares of AMG opened at $240.58 on Friday. The firm has a market capitalization of $6.83 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21. The stock’s fifty day simple moving average is $234.09 and its 200 day simple moving average is $203.56. 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 earnings results 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. The business had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $4.67 EPS. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barrington Research increased their price target on Affiliated Managers Group from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. Bank of America increased their price target on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Friday. Finally, TD Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $272.60.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction 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 transaction, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.20% of the company’s stock.

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.