Nisa Investment Advisors LLC Sells 1,300 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Nisa Investment Advisors LLC lowered its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,560 shares of the asset manager’s stock after selling 1,300 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Affiliated Managers Group were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AMG. Prudential Financial Inc. raised its holdings in shares of Affiliated Managers Group by 901.6% during the 2nd quarter. Prudential Financial Inc. now owns 1,124,809 shares of the asset manager’s stock valued at $103,640,000 after purchasing an additional 1,012,510 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in Affiliated Managers Group by 13.8% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 5,690,267 shares of the asset manager’s stock worth $524,301,000 after acquiring an additional 691,917 shares during the period. Clarkston Capital Partners LLC raised its holdings in Affiliated Managers Group by 59.9% in the 2nd quarter. Clarkston Capital Partners LLC now owns 1,198,185 shares of the asset manager’s stock worth $110,401,000 after acquiring an additional 449,060 shares during the period. FMR LLC raised its holdings in Affiliated Managers Group by 110.6% in the 1st quarter. FMR LLC now owns 694,862 shares of the asset manager’s stock worth $74,427,000 after acquiring an additional 364,904 shares during the period. Finally, Kiltearn Partners LLP raised its holdings in Affiliated Managers Group by 26.8% in the 2nd quarter. Kiltearn Partners LLP now owns 1,232,130 shares of the asset manager’s stock worth $113,528,000 after acquiring an additional 260,100 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

AMG traded up $0.34 during trading on Friday, hitting $77.24. The stock had a trading volume of 7,102 shares, compared to its average volume of 498,236. The firm has a market cap of $3.90 billion, a PE ratio of 5.27, a P/E/G ratio of 0.57 and a beta of 1.65. Affiliated Managers Group, Inc. has a 12 month low of $71.08 and a 12 month high of $119.96. The company has a 50 day simple moving average of $80.03 and a 200-day simple moving average of $88.36.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, July 29th. The asset manager reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.14. The company had revenue of $591.90 million for the quarter, compared to analyst estimates of $540.89 million. Affiliated Managers Group had a negative net margin of 5.19% and a positive return on equity of 17.68%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business posted $3.61 EPS. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 13.41 EPS for the current year.

In other news, Director Nathaniel Dalton sold 23,000 shares of Affiliated Managers Group stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $76.86, for a total transaction of $1,767,780.00. Following the sale, the director now directly owns 208,346 shares in the company, valued at approximately $16,013,473.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Samuel T. Byrne bought 6,589 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $88.77 per share, for a total transaction of $584,905.53. Following the completion of the transaction, the director now owns 19,082 shares in the company, valued at approximately $1,693,909.14. The disclosure for this purchase can be found here. Company insiders own 1.43% of the company’s stock.

AMG has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of Affiliated Managers Group from $98.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. ValuEngine upgraded shares of Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating and set a $81.00 target price on the stock in a report on Thursday, October 3rd. Barrington Research set a $100.00 target price on shares of Affiliated Managers Group and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Bank of America lifted their target price on shares of Affiliated Managers Group from $75.00 to $85.00 and gave the stock an “underperform” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Affiliated Managers Group has a consensus rating of “Hold” and a consensus price target of $96.70.

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

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