Balyasny Asset Management LLC reduced its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 98.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,465 shares of the asset manager’s stock after selling 125,209 shares during the period. Balyasny Asset Management LLC’s holdings in Affiliated Managers Group were worth $243,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AMG. Harbour Capital Advisors LLC grew its holdings in Affiliated Managers Group by 15,766.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,042,596 shares of the asset manager’s stock valued at $6,286,000 after purchasing an additional 1,036,025 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Affiliated Managers Group by 42.2% in the second quarter. EdgePoint Investment Group Inc. now owns 1,932,316 shares of the asset manager’s stock valued at $320,494,000 after purchasing an additional 573,066 shares during the period. FMR LLC grew its holdings in Affiliated Managers Group by 33.8% in the second quarter. FMR LLC now owns 1,146,357 shares of the asset manager’s stock valued at $190,134,000 after purchasing an additional 289,885 shares during the period. Vanguard Group Inc. grew its holdings in Affiliated Managers Group by 5.1% in the second quarter. Vanguard Group Inc. now owns 5,574,012 shares of the asset manager’s stock valued at $924,505,000 after purchasing an additional 270,929 shares during the period. Finally, CI Global Investments Inc. grew its holdings in Affiliated Managers Group by 20,215.4% in the second quarter. CI Global Investments Inc. now owns 224,688 shares of the asset manager’s stock valued at $37,267,000 after purchasing an additional 223,582 shares during the period. 96.24% of the stock is currently owned by institutional investors.

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) opened at 197.54 on Friday. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of 21.88 and a beta of 1.66. Affiliated Managers Group, Inc. has a 52 week low of $130.48 and a 52 week high of $198.31. The stock has a 50 day moving average price of $186.84 and a 200-day moving average price of $171.58.

Affiliated Managers Group (NYSE:AMG) last released its quarterly 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. 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%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.07 EPS. On average, analysts anticipate that Affiliated Managers Group, Inc. will post $14.48 EPS for the current year.

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Several analysts have commented on AMG shares. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 price objective on the stock in a report on Monday, October 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a report on Friday, August 18th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a report on Thursday, August 3rd. BidaskClub lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, ValuEngine raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average 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.

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

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