Rafferty Asset Management LLC cut its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 14.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,373 shares of the asset manager’s stock after selling 1,384 shares during the period. Rafferty Asset Management LLC’s holdings in Affiliated Managers Group were worth $1,389,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. OppenheimerFunds Inc. boosted its position in Affiliated Managers Group by 0.4% during the first quarter. OppenheimerFunds Inc. now owns 1,935 shares of the asset manager’s stock valued at $317,000 after purchasing an additional 7 shares during the last quarter. Stephens Inc. AR boosted its position in Affiliated Managers Group by 0.4% during the second quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock valued at $373,000 after purchasing an additional 9 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in Affiliated Managers Group by 0.7% during the second quarter. Contravisory Investment Management Inc. now owns 1,621 shares of the asset manager’s stock valued at $269,000 after purchasing an additional 11 shares during the last quarter. Somerset Trust Co boosted its position in Affiliated Managers Group by 0.4% during the second quarter. Somerset Trust Co now owns 3,779 shares of the asset manager’s stock valued at $627,000 after purchasing an additional 16 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its position in Affiliated Managers Group by 2.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 16 shares during the last quarter. 96.16% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently commented on AMG shares. Credit Suisse Group reissued a “buy” rating and set a $207.00 price target on shares of Affiliated Managers Group in a research report on Sunday, July 9th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 price objective for the company in a research report on Tuesday, July 4th. ValuEngine cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Monday, June 5th. Finally, BidaskClub raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $195.50.

Shares of Affiliated Managers Group, Inc. (NYSE AMG) opened at 184.97 on Friday. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $187.08. The stock has a 50 day moving average price of $177.13 and a 200-day moving average price of $166.93. The firm has a market capitalization of $10.35 billion, a PE ratio of 20.49 and a beta of 1.66.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The firm had revenue of $570.90 million for the quarter, compared to the consensus estimate of $573.73 million. During the same quarter in the previous year, the business earned $3.07 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that Affiliated Managers Group, Inc. will post $14.55 EPS for the current year.

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Affiliated Managers Group 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.

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

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