Affiliated Managers Group, Inc. $AMG Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 24.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,920 shares of the asset manager’s stock after selling 4,445 shares during the quarter. Inspire Investing LLC’s holdings in Affiliated Managers Group were worth $5,089,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Affiliated Managers Group in the 2nd quarter valued at approximately $938,294,000. Bank of America Corp DE purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $146,331,000. Bank of New York Mellon Corp purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $95,418,000. Bruni J V & Co. Co. purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $71,095,810. Finally, Kiltearn Partners LLP acquired a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at $62,464,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Trading Down 3.1%

NYSE:AMG opened at $383.14 on Friday. The stock’s 50 day moving average price is $369.03 and its 200 day moving average price is $344.00. Affiliated Managers Group, Inc. has a 52 week low of $235.04 and a 52 week high of $399.00. The company has a market capitalization of $9.91 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.51 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. The firm had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.39 earnings per share. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 36.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AMG. TD Cowen boosted their price target on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a report on Monday, October 12th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research note on Friday, July 31st. Weiss Ratings upgraded Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group has a consensus rating of “Moderate Buy” and an average price target of $388.33.

Check Out Our Latest Stock Analysis on Affiliated Managers Group

Affiliated Managers Group Profile

(Free Report)

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.

See Also

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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