Nordea Investment Management AB increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 2.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,774 shares of the asset manager’s stock after acquiring an additional 1,804 shares during the quarter. Nordea Investment Management AB owned approximately 0.18% of Affiliated Managers Group worth $9,722,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Kiltearn Partners LLP purchased a new stake in shares of Affiliated Managers Group during the fourth quarter valued at about $81,521,000. Norges Bank acquired a new position in shares of Affiliated Managers Group during the fourth quarter valued at about $45,931,000. Two Sigma Investments LP increased its holdings in shares of Affiliated Managers Group by 189.3% during the fourth quarter. Two Sigma Investments LP now owns 531,567 shares of the asset manager’s stock valued at $51,796,000 after acquiring an additional 347,822 shares in the last quarter. Clarkston Capital Partners LLC increased its holdings in shares of Affiliated Managers Group by 34.2% during the first quarter. Clarkston Capital Partners LLC now owns 749,125 shares of the asset manager’s stock valued at $80,239,000 after acquiring an additional 191,000 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Affiliated Managers Group by 497.4% during the fourth quarter. Two Sigma Advisers LP now owns 211,264 shares of the asset manager’s stock valued at $20,586,000 after acquiring an additional 175,900 shares in the last quarter. 94.65% of the stock is owned by institutional investors.
AMG has been the topic of several research reports. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research downgraded shares of Haynes International from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. Barrington Research reiterated a “buy” rating and issued a $135.00 price target on shares of Affiliated Managers Group in a report on Tuesday, April 30th. Deutsche Bank set a €230.00 ($267.44) price objective on shares of adidas and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Finally, Citigroup cut shares of Apergy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $41.00 to $34.00 in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Affiliated Managers Group currently has an average rating of “Hold” and an average target price of $123.11.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, May 6th. The asset manager reported $3.26 EPS for the quarter, missing the consensus estimate of $3.27 by ($0.01). Affiliated Managers Group had a positive return on equity of 17.72% and a negative net margin of 4.77%. The company had revenue of $543.10 million for the quarter, compared to analysts’ expectations of $541.42 million. During the same quarter in the prior year, the firm earned $3.92 EPS. The firm’s revenue was down 11.3% on a year-over-year basis. Research analysts anticipate that Affiliated Managers Group, Inc. will post 13.71 earnings per share for the current year.
In other news, insider Jay C. Horgen acquired 11,000 shares of Affiliated Managers Group stock in a transaction on Friday, May 10th. The stock was bought at an average price of $93.19 per share, for a total transaction of $1,025,090.00. Following the completion of the purchase, the insider now owns 115,527 shares in the company, valued at $10,765,961.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jide James Zeitlin sold 54,350 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $92.22, for a total value of $5,012,157.00. The disclosure for this sale can be found here. Insiders own 1.43% of the company’s stock.
Affiliated Managers Group Company 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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