Bessemer Group Inc. boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 10.7% during the second quarter, Holdings Channel reports. The firm owned 5,492 shares of the asset manager’s stock after buying an additional 530 shares during the period. Bessemer Group Inc.’s holdings in Affiliated Managers Group were worth $910,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. increased its position in Affiliated Managers Group by 6.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 48,882 shares of the asset manager’s stock valued at $8,014,000 after buying an additional 3,076 shares during the period. BB&T Corp increased its position in Affiliated Managers Group by 19.4% in the second quarter. BB&T Corp now owns 7,042 shares of the asset manager’s stock valued at $1,168,000 after buying an additional 1,143 shares during the period. Bank of Montreal Can increased its position in Affiliated Managers Group by 44.9% in the first quarter. Bank of Montreal Can now owns 43,685 shares of the asset manager’s stock valued at $7,161,000 after buying an additional 13,540 shares during the period. Schwab Charles Investment Management Inc. increased its position in Affiliated Managers Group by 12.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 273,515 shares of the asset manager’s stock valued at $44,841,000 after buying an additional 29,626 shares during the period. Finally, Pier 88 Investment Partners LLC increased its position in Affiliated Managers Group by 25.0% in the second quarter. Pier 88 Investment Partners LLC now owns 2,500 shares of the asset manager’s stock valued at $415,000 after buying an additional 500 shares during the period. 95.29% of the stock is owned by institutional investors and hedge funds.

Shares of Affiliated Managers Group, Inc. (NYSE AMG) opened at 178.90 on Wednesday. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $187.08. The stock has a market cap of $10.01 billion, a PE ratio of 19.82 and a beta of 1.65. The company’s 50-day moving average price is $175.81 and its 200-day moving average price is $164.94.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 31st. The asset manager reported $3.33 EPS for the quarter, beating the consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The business had revenue of $570.90 million during the quarter, compared to the consensus estimate of $573.73 million. During the same period in the prior year, the business posted $3.07 earnings per share. Affiliated Managers Group’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Affiliated Managers Group, Inc. will post $14.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Tuesday, August 8th. Affiliated Managers Group’s dividend payout ratio is 8.87%.

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Several research analysts have recently issued reports on AMG shares. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. ValuEngine raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Citigroup Inc. reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research note on Tuesday, May 2nd. Credit Suisse Group reaffirmed a “buy” rating and set a $207.00 price target on shares of Affiliated Managers Group in a research note on Sunday, July 9th. Finally, BidaskClub raised Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $195.50.

In related news, Director Patrick T. Ryan sold 8,902 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $152.89, for a total value of $1,361,026.78. Following the completion of the sale, the director now directly owns 10,342 shares of the company’s stock, valued at approximately $1,581,188.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight D. Churchill sold 3,277 shares of the stock in a transaction dated 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 sale, the director now directly owns 7,301 shares of the company’s stock, valued at $1,192,253.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,107 shares of company stock valued at $11,065,554. 1.40% of the stock is currently owned by company insiders.

About Affiliated Managers Group

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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