Renaissance Technologies LLC purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 76,969 shares of the asset manager’s stock, valued at approximately $12,766,000. Renaissance Technologies LLC owned 0.14% of Affiliated Managers Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AMG. Vanguard Group Inc. increased its position in Affiliated Managers Group by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,574,012 shares of the asset manager’s stock worth $924,505,000 after buying an additional 270,929 shares during the period. BlackRock Inc. increased its position in Affiliated Managers Group by 3,178.4% during the 1st quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock worth $561,556,000 after buying an additional 3,320,906 shares during the period. State Street Corp increased its position in Affiliated Managers Group by 8.5% during the 1st quarter. State Street Corp now owns 2,583,067 shares of the asset manager’s stock worth $423,466,000 after buying an additional 202,802 shares during the period. EdgePoint Investment Group Inc. increased its position in Affiliated Managers Group by 42.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,932,316 shares of the asset manager’s stock worth $320,494,000 after buying an additional 573,066 shares during the period. Finally, Bank of America Corp DE increased its position in Affiliated Managers Group by 11.0% during the 1st quarter. Bank of America Corp DE now owns 1,697,570 shares of the asset manager’s stock worth $278,300,000 after buying an additional 168,151 shares during the period. Institutional investors and hedge funds own 96.24% of the company’s stock.

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Shares of Affiliated Managers Group, Inc. (AMG) opened at 193.79 on Wednesday. Affiliated Managers Group, Inc. has a 52 week low of $130.48 and a 52 week high of $196.77. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 21.47 and a beta of 1.66. The stock’s 50 day moving average price is $184.12 and its 200-day moving average price is $170.54.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. The firm had revenue of $570.90 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned $3.07 EPS. Equities analysts predict that Affiliated Managers Group, Inc. will post $14.48 earnings per share for the current year.

Several research analysts have weighed in on AMG shares. ValuEngine upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. BidaskClub upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a research report on Tuesday, July 4th. Credit Suisse Group restated a “buy” rating and issued a $207.00 price target on shares of Affiliated Managers Group in a research report on Sunday, July 9th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $207.25.

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.

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

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