Affiliated Managers Group, Inc. $AMG Shares Sold by XTX Topco Ltd

XTX Topco Ltd cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 18.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 12,013 shares of the asset manager’s stock after selling 2,682 shares during the quarter. XTX Topco Ltd’s holdings in Affiliated Managers Group were worth $2,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Cetera Investment Advisers raised its holdings in shares of Affiliated Managers Group by 89.1% during the first quarter. Cetera Investment Advisers now owns 5,481 shares of the asset manager’s stock worth $921,000 after purchasing an additional 2,583 shares during the last quarter. Goodman Financial Corp grew its position in Affiliated Managers Group by 1.6% during the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock worth $13,578,000 after purchasing an additional 1,301 shares during the period. US Bancorp DE raised its stake in shares of Affiliated Managers Group by 15.8% during the 1st quarter. US Bancorp DE now owns 3,957 shares of the asset manager’s stock valued at $665,000 after buying an additional 541 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Affiliated Managers Group in the 1st quarter valued at about $405,000. Finally, LSV Asset Management boosted its stake in shares of Affiliated Managers Group by 10.4% in the first quarter. LSV Asset Management now owns 468,084 shares of the asset manager’s stock worth $78,652,000 after buying an additional 44,090 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AMG has been the topic of several analyst reports. Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Bank of America raised their price objective on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. TD Cowen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 14th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $290.33.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock opened at $268.13 on Thursday. The stock’s 50 day simple moving average is $245.85 and its 200-day simple moving average is $218.32. The stock has a market cap of $7.54 billion, a P/E ratio of 19.57, a P/E/G ratio of 0.61 and a beta of 1.25. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $271.48.

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

Affiliated Managers Group Dividend Announcement

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 dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Thursday, November 13th. Affiliated Managers Group’s payout ratio is currently 0.24%.

Affiliated Managers Group Company Profile

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.