Fmr LLC Acquires 45,162 Shares of Affiliated Managers Group, Inc. (AMG)

Fmr LLC boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 15.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 329,958 shares of the asset manager’s stock after acquiring an additional 45,162 shares during the quarter. Fmr LLC owned 0.63% of Affiliated Managers Group worth $32,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Proficio Capital Partners LLC increased its stake in Affiliated Managers Group by 1,295.5% in the 4th quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock valued at $30,000 after buying an additional 285 shares during the last quarter. JOYN Advisors Inc. increased its stake in Affiliated Managers Group by 649.1% in the 4th quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock valued at $39,000 after buying an additional 344 shares during the last quarter. Legacy Bridge LLC purchased a new stake in Affiliated Managers Group in the 4th quarter valued at about $44,000. CSat Investment Advisory L.P. increased its stake in Affiliated Managers Group by 173.5% in the 4th quarter. CSat Investment Advisory L.P. now owns 517 shares of the asset manager’s stock valued at $50,000 after buying an additional 328 shares during the last quarter. Finally, Covington Capital Management purchased a new stake in Affiliated Managers Group in the 4th quarter valued at about $52,000. 98.23% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Tracy P. Palandjian sold 1,694 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $110.64, for a total value of $187,424.16. Following the completion of the transaction, the director now directly owns 4,291 shares in the company, valued at approximately $474,756.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.91% of the stock is currently owned by insiders.

Several research firms have commented on AMG. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Tuesday, April 2nd. ValuEngine lowered shares of Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Jefferies Financial Group lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 price objective for the company. in a research note on Tuesday, January 29th. Deutsche Bank lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $158.00 to $106.00 in a research note on Thursday, January 10th. Finally, Citigroup lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating in a research note on Monday, January 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $131.23.

Shares of AMG stock opened at $113.64 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.25. Affiliated Managers Group, Inc. has a 12-month low of $88.46 and a 12-month high of $174.50. The company has a market cap of $5.82 billion, a PE ratio of 7.83, a P/E/G ratio of 0.72 and a beta of 1.49.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, February 4th. The asset manager reported $3.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.51 by $0.02. Affiliated Managers Group had a net margin of 10.24% and a return on equity of 18.11%. The company had revenue of $564.40 million during the quarter, compared to analyst estimates of $568.99 million. During the same quarter last year, the business posted $4.68 EPS. Affiliated Managers Group’s quarterly revenue was down 6.6% compared to the same quarter last year. Equities analysts forecast that Affiliated Managers Group, Inc. will post 14.22 earnings per share for the current fiscal year.

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Affiliated Managers Group Profile

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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