CWC Advisors LLC. Takes $1.90 Million Position in Affiliated Managers Group, Inc. (NYSE:AMG)

CWC Advisors LLC. purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,692 shares of the asset manager’s stock, valued at approximately $1,901,000. Affiliated Managers Group comprises approximately 1.9% of CWC Advisors LLC.’s portfolio, making the stock its 12th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMG. Altshuler Shaham Ltd bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $28,000. UMB Bank n.a. raised its position in Affiliated Managers Group by 481.3% during the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 154 shares in the last quarter. Denali Advisors LLC raised its position in Affiliated Managers Group by 429.2% during the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Affiliated Managers Group during the 2nd quarter valued at $47,000. Finally, Goodman Advisory Group LLC bought a new stake in Affiliated Managers Group during the 2nd quarter valued at $50,000. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMG. Deutsche Bank Aktiengesellschaft lifted their target price on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Bank of America lifted their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Barrington Research lifted their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. TD Cowen boosted their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Finally, StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.50.

Insider Buying and Selling

In related news, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares in the company, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the sale, the chief executive officer now owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the sale, the chief operating officer now directly owns 84,392 shares in the company, valued at $14,575,342.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by company insiders.

Affiliated Managers Group Stock Performance

AMG stock opened at $191.35 on Friday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.58 and a beta of 1.20. The firm has a 50-day simple moving average of $178.01 and a two-hundred day simple moving average of $167.38. Affiliated Managers Group, Inc. has a one year low of $121.56 and a one year high of $196.69.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating the consensus estimate of $4.60 by $0.07. The business had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.45 earnings per share. As a group, equities analysts predict that Affiliated Managers Group, Inc. will post 21.98 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, August 8th. Affiliated Managers Group’s payout ratio is currently 0.22%.

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.