Suntrust Banks Inc. grew its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,227 shares of the asset manager’s stock after acquiring an additional 587 shares during the quarter. Suntrust Banks Inc.’s holdings in Affiliated Managers Group were worth $2,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BB&T Corp increased its position in Affiliated Managers Group by 19.4% during the 2nd quarter. BB&T Corp now owns 7,042 shares of the asset manager’s stock worth $1,168,000 after purchasing an additional 1,143 shares in the last quarter. Schroder Investment Management Group increased its position in Affiliated Managers Group by 8.3% during the 2nd quarter. Schroder Investment Management Group now owns 383,937 shares of the asset manager’s stock worth $63,353,000 after purchasing an additional 29,297 shares in the last quarter. Pier 88 Investment Partners LLC increased its position in Affiliated Managers Group by 25.0% during the 2nd quarter. Pier 88 Investment Partners LLC now owns 2,500 shares of the asset manager’s stock worth $415,000 after purchasing an additional 500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Affiliated Managers Group by 12.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 273,515 shares of the asset manager’s stock worth $44,841,000 after purchasing an additional 29,626 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in Affiliated Managers Group by 3.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 1,770 shares of the asset manager’s stock worth $290,000 after purchasing an additional 60 shares in the last quarter. 96.16% of the stock is owned by institutional investors.

Affiliated Managers Group, Inc. (NYSE AMG) opened at 188.45 on Thursday. The company has a market capitalization of $10.55 billion, a PE ratio of 20.88 and a beta of 1.66. Affiliated Managers Group, Inc. has a 52 week low of $130.48 and a 52 week high of $189.86. The company’s 50-day moving average price is $177.13 and its 200 day moving average price is $166.93.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $570.90 million for the quarter, compared to analysts’ expectations of $573.73 million. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. Affiliated Managers Group’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.07 earnings per share. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post $14.55 EPS for the current year.

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A number of research firms recently issued reports on AMG. Jefferies Group LLC reissued a “buy” rating and set a $200.00 target price on shares of Affiliated Managers Group in a research report on Friday, August 18th. Credit Suisse Group increased their target price on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $215.00 target price on shares of Affiliated Managers Group in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus price target of $195.50.

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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