RMB Capital Management LLC Sells 697 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

RMB Capital Management LLC trimmed its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 7.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,744 shares of the asset manager’s stock after selling 697 shares during the period. RMB Capital Management LLC’s holdings in Affiliated Managers Group were worth $806,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AMG. Ossiam bought a new position in Affiliated Managers Group in the 2nd quarter valued at $48,000. Truvestments Capital LLC bought a new position in shares of Affiliated Managers Group in the 2nd quarter worth $74,000. Integrated Investment Consultants LLC boosted its position in shares of Affiliated Managers Group by 28.0% in the 2nd quarter. Integrated Investment Consultants LLC now owns 2,400 shares of the asset manager’s stock worth $221,000 after purchasing an additional 525 shares during the last quarter. FDx Advisors Inc. boosted its position in shares of Affiliated Managers Group by 22.9% in the 2nd quarter. FDx Advisors Inc. now owns 2,466 shares of the asset manager’s stock worth $227,000 after purchasing an additional 460 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV boosted its position in shares of Affiliated Managers Group by 14.8% in the 2nd quarter. Mid Atlantic Financial Management Inc. ADV now owns 2,645 shares of the asset manager’s stock worth $244,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Several research firms have recently issued reports on AMG. Barrington Research reduced their price target on Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Bank of America lowered Affiliated Managers Group from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $97.00 to $85.00 in a research report on Tuesday, July 30th. Finally, Citigroup reduced their price target on Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Affiliated Managers Group has an average rating of “Hold” and a consensus price target of $109.84.

In related news, Director Nathaniel Dalton sold 23,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $76.86, for a total transaction of $1,767,780.00. Following the sale, the director now owns 208,346 shares of the company’s stock, valued at approximately $16,013,473.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Samuel T. Byrne acquired 6,589 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $88.77 per share, for a total transaction of $584,905.53. Following the purchase, the director now directly 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.

Shares of NYSE:AMG traded down $0.76 during midday trading on Tuesday, hitting $87.64. The company had a trading volume of 194,880 shares, compared to its average volume of 453,237. Affiliated Managers Group, Inc. has a 12 month low of $73.90 and a 12 month high of $147.94. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.66 and a beta of 1.64. The firm has a fifty day simple moving average of $79.78 and a 200 day simple moving average of $93.75.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 29th. The asset manager reported $3.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.19 by $0.14. The business had revenue of $591.90 million for the quarter, compared to the consensus estimate of $540.89 million. Affiliated Managers Group had a positive return on equity of 17.68% and a negative net margin of 5.19%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.61 EPS. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 13.52 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Wednesday, August 7th. Affiliated Managers Group’s payout ratio is presently 8.83%.

About Affiliated Managers Group

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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