BB&T Corp increased its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 19.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,042 shares of the asset manager’s stock after buying an additional 1,143 shares during the period. BB&T Corp’s holdings in Affiliated Managers Group were worth $1,168,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. boosted its stake in Affiliated Managers Group by 6.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 48,882 shares of the asset manager’s stock worth $8,014,000 after buying an additional 3,076 shares during the period. Bank of Montreal Can boosted its stake in Affiliated Managers Group by 44.9% in the first quarter. Bank of Montreal Can now owns 43,685 shares of the asset manager’s stock worth $7,161,000 after buying an additional 13,540 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Affiliated Managers Group by 12.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 273,515 shares of the asset manager’s stock worth $44,841,000 after buying an additional 29,626 shares during the period. Financial Architects Inc boosted its stake in Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock worth $134,000 after buying an additional 801 shares during the period. Finally, Cullinan Associates Inc. bought a new stake in Affiliated Managers Group during the first quarter worth approximately $1,139,000. Institutional investors own 94.86% of the company’s stock.

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) opened at 180.64 on Monday. Affiliated Managers Group, Inc. has a 52 week low of $130.48 and a 52 week high of $187.08. The firm has a market capitalization of $10.17 billion, a PE ratio of 20.01 and a beta of 1.65. The firm’s 50-day moving average is $171.23 and its 200 day moving average is $162.48.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.09. The business had revenue of $570.90 million during the quarter, compared to the consensus estimate of $573.73 million. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.07 earnings per share. On average, equities analysts forecast that Affiliated Managers Group, Inc. will post $14.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, August 8th. Affiliated Managers Group’s payout ratio is currently 8.87%.

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A number of analysts recently commented on AMG shares. Zacks Investment Research cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Citigroup Inc. reiterated a “buy” rating on shares of Affiliated Managers Group in a research note on Tuesday, May 2nd. Credit Suisse Group reiterated a “buy” rating and issued a $207.00 target price on shares of Affiliated Managers Group in a research note on Sunday, July 9th. Finally, BidaskClub upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Affiliated Managers Group has an average rating of “Buy” and an average target price of $193.50.

In related news, Director Dwight D. Churchill sold 3,277 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $163.30, for a total transaction of $535,134.10. Following the completion of the sale, the director now directly owns 7,301 shares of the company’s stock, valued at $1,192,253.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sean M. Healey sold 56,928 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total value of $9,169,392.96. Following the sale, the chief executive officer now directly owns 206,689 shares of the company’s stock, valued at $33,291,397.23. The disclosure for this sale can be found here. Insiders sold 69,107 shares of company stock valued at $11,065,554 over the last three months. Corporate insiders own 1.40% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

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

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