Sheets Smith Wealth Management Holds Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Sheets Smith Wealth Management maintained its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,227 shares of the asset manager’s stock at the end of the second quarter. Sheets Smith Wealth Management’s holdings in Affiliated Managers Group were worth $204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Affiliated Managers Group during the first quarter worth approximately $104,000. Creative Planning raised its position in shares of Affiliated Managers Group by 15.0% in the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after buying an additional 92 shares during the period. Financial Architects Inc raised its position in shares of Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock worth $134,000 after buying an additional 801 shares during the period. FNY Partners Fund LP acquired a new position in shares of Affiliated Managers Group during the first quarter worth approximately $163,000. Finally, Pacer Advisors Inc. raised its position in shares of Affiliated Managers Group by 3.1% in the first quarter. Pacer Advisors Inc. now owns 1,096 shares of the asset manager’s stock worth $180,000 after buying an additional 33 shares during the period. Institutional investors own 94.66% of the company’s stock.

Shares of Affiliated Managers Group, Inc. (NYSE AMG) opened at 178.35 on Monday. The stock’s 50 day moving average price is $166.61 and its 200-day moving average price is $160.29. The company has a market capitalization of $10.09 billion, a PE ratio of 20.29 and a beta of 1.63. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $179.81.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, May 1st. The asset manager reported $3.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.18 by $0.03. The business had revenue of $544.30 million during the quarter, compared to analysts’ expectations of $551.56 million. Affiliated Managers Group had a return on equity of 17.53% and a net margin of 22.31%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $2.94 EPS. On average, analysts expect that Affiliated Managers Group, Inc. will post $14.51 earnings per share for the current year.

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A number of brokerages have recently commented on AMG. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Tuesday, April 18th. ValuEngine upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. BidaskClub upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Deutsche Bank AG cut their price target on Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating for the company in a report on Tuesday, April 18th. Finally, Jefferies Group LLC restated a “buy” rating on shares of Affiliated Managers Group in a research report on Monday, March 27th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $189.38.

In other Affiliated Managers Group news, Director Dwight D. Churchill sold 3,277 shares of Affiliated Managers Group stock in a transaction on Monday, June 5th. The stock was sold at an average price of $163.30, for a total value of $535,134.10. Following the completion of the transaction, the director now directly owns 7,301 shares of the company’s stock, valued at approximately $1,192,253.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean M. Healey sold 56,928 shares of Affiliated Managers Group stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $161.07, for a total value of $9,169,392.96. Following the completion of the transaction, the chief executive officer now directly owns 206,689 shares of the company’s stock, valued at $33,291,397.23. The disclosure for this sale can be found here. Insiders sold a total of 69,107 shares of company stock valued at $11,065,554 over the last ninety days. 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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