Genus Capital Management Inc. Sells 1,030 Shares of Affiliated Managers Group, Inc. $AMG

Genus Capital Management Inc. trimmed its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 29.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,460 shares of the asset manager’s stock after selling 1,030 shares during the period. Genus Capital Management Inc.’s holdings in Affiliated Managers Group were worth $484,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Huntington National Bank lifted its stake in shares of Affiliated Managers Group by 129.2% during the 2nd quarter. Huntington National Bank now owns 541 shares of the asset manager’s stock worth $106,000 after acquiring an additional 305 shares during the last quarter. Amplius Wealth Advisors LLC lifted its stake in shares of Affiliated Managers Group by 14.0% during the 2nd quarter. Amplius Wealth Advisors LLC now owns 19,596 shares of the asset manager’s stock worth $3,856,000 after acquiring an additional 2,401 shares during the last quarter. Impact Partnership Wealth LLC bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $290,000. Assetmark Inc. lifted its stake in shares of Affiliated Managers Group by 2.7% during the 2nd quarter. Assetmark Inc. now owns 29,345 shares of the asset manager’s stock worth $5,774,000 after acquiring an additional 774 shares during the last quarter. Finally, Guinness Asset Management LTD lifted its stake in shares of Affiliated Managers Group by 2.4% during the 2nd quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager’s stock worth $629,000 after acquiring an additional 74 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the transaction, the chief operating officer directly owned 158,710 shares in the company, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.20% of the company’s stock.

Affiliated Managers Group Trading Up 2.1%

Shares of NYSE:AMG opened at $256.67 on Thursday. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $259.47. The business’s fifty day simple moving average is $237.79 and its 200-day simple moving average is $208.78. The company has a market capitalization of $7.29 billion, a PE ratio of 18.74, a P/E/G ratio of 0.61 and a beta of 1.25.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. During the same period last year, the business posted $4.82 EPS. The business’s revenue was up 2.2% compared to the same quarter last year. Research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Thursday, November 13th will be issued a $0.01 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AMG shares. Jefferies Financial Group reissued a “buy” rating and set a $282.00 price target on shares of Affiliated Managers Group in a research note on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Bank of America raised their price target on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Tuesday. Finally, Barrington Research raised their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.57.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.