Affiliated Managers Group, Inc. (AMG) Position Reduced by US Bancorp DE

US Bancorp DE trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 25.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,738 shares of the asset manager’s stock after selling 935 shares during the period. US Bancorp DE’s holdings in Affiliated Managers Group were worth $407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of AMG. Old Mutual Global Investors UK Ltd. bought a new position in Affiliated Managers Group during the 1st quarter worth about $89,189,000. Canada Pension Plan Investment Board grew its holdings in Affiliated Managers Group by 1,387.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 360,321 shares of the asset manager’s stock worth $53,569,000 after acquiring an additional 336,094 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Affiliated Managers Group by 91.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 584,135 shares of the asset manager’s stock worth $86,844,000 after acquiring an additional 278,337 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in Affiliated Managers Group during the 1st quarter worth about $50,381,000. Finally, American Century Companies Inc. grew its holdings in Affiliated Managers Group by 86.3% during the 2nd quarter. American Century Companies Inc. now owns 547,002 shares of the asset manager’s stock worth $81,323,000 after acquiring an additional 253,376 shares in the last quarter. Institutional investors own 93.96% of the company’s stock.

Several research analysts have issued reports on AMG shares. Barrington Research dropped their target price on shares of Affiliated Managers Group from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, July 16th. Keefe, Bruyette & Woods upgraded shares of Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 target price on the stock in a report on Monday, July 30th. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Tuesday, June 19th. TheStreet cut shares of Affiliated Managers Group from a “b-” rating to a “c+” rating in a report on Monday, June 25th. Finally, ValuEngine cut shares of Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a report on Thursday, June 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $207.63.

NYSE:AMG opened at $133.55 on Tuesday. Affiliated Managers Group, Inc. has a fifty-two week low of $132.51 and a fifty-two week high of $216.99. The stock has a market capitalization of $7.31 billion, a PE ratio of 9.15, a PEG ratio of 0.67 and a beta of 1.48. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 30th. The asset manager reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.59 by $0.02. Affiliated Managers Group had a net margin of 29.59% and a return on equity of 19.44%. The business had revenue of $600.10 million for the quarter, compared to analysts’ expectations of $604.68 million. During the same period last year, the business earned $3.33 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 15.43 EPS for the current year.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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

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