US Bancorp DE Has $407,000 Position in Affiliated Managers Group, Inc. (AMG)

US Bancorp DE lowered its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 48.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,455 shares of the asset manager’s stock after selling 2,326 shares during the period. US Bancorp DE’s holdings in Affiliated Managers Group were worth $407,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in Affiliated Managers Group by 44.9% in the first quarter. Bank of Montreal Can now owns 43,685 shares of the asset manager’s stock valued at $7,161,000 after buying an additional 13,540 shares in the last quarter. Pier 88 Investment Partners LLC increased its position in Affiliated Managers Group by 25.0% in the second quarter. Pier 88 Investment Partners LLC now owns 2,500 shares of the asset manager’s stock valued at $415,000 after buying an additional 500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Affiliated Managers Group by 12.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 273,515 shares of the asset manager’s stock valued at $44,841,000 after buying an additional 29,626 shares in the last quarter. Financial Architects Inc increased its position in Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock valued at $134,000 after buying an additional 801 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in Affiliated Managers Group by 3.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 1,770 shares of the asset manager’s stock valued at $290,000 after buying an additional 60 shares in the last quarter. 95.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Affiliated Managers Group, Inc. (NYSE AMG) traded down 0.09% during trading on Friday, reaching $172.84. The company’s stock had a trading volume of 267,741 shares. The stock has a 50 day moving average of $176.68 and a 200-day moving average of $165.25. The company has a market capitalization of $9.67 billion, a PE ratio of 19.15 and a beta of 1.65. Affiliated Managers Group, Inc. has a 1-year low of $130.48 and a 1-year high of $187.08.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The business had revenue of $570.90 million during the quarter, compared to analysts’ expectations of $573.73 million. During the same period in the previous year, the firm posted $3.07 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. On average, analysts expect that Affiliated Managers Group, Inc. will post $14.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Affiliated Managers Group’s payout ratio is presently 8.87%.

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AMG has been the topic of several analyst reports. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Citigroup Inc. reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday, May 2nd. ValuEngine raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Credit Suisse Group reissued a “buy” rating and set a $207.00 target price on shares of Affiliated Managers Group in a research report on Sunday, July 9th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $200.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $195.50.

In other news, CEO Sean M. Healey sold 56,928 shares of Affiliated Managers Group stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total value of $9,169,392.96. Following the completion of the sale, the chief executive officer now directly owns 206,689 shares of the company’s stock, valued at $33,291,397.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight D. Churchill sold 3,277 shares of Affiliated Managers Group stock in a transaction on Monday, June 5th. The shares were sold at an average price of $163.30, for a total value of $535,134.10. Following the completion of the sale, the director now directly owns 7,301 shares of the company’s stock, valued at $1,192,253.30. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Affiliated Managers Group Company 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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