Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 48.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,765 shares of the asset manager's stock after selling 3,570 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Affiliated Managers Group were worth $588,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Diversified Trust Co bought a new stake in Affiliated Managers Group during the second quarter worth approximately $1,293,000. CWM LLC lifted its position in shares of Affiliated Managers Group by 8.8% in the 2nd quarter. CWM LLC now owns 2,720 shares of the asset manager's stock valued at $425,000 after acquiring an additional 220 shares in the last quarter. Marcum Wealth LLC purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $267,000. First Hawaiian Bank purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $644,000. Finally, Invst LLC purchased a new stake in shares of Affiliated Managers Group in the 1st quarter valued at approximately $813,000. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMG has been the subject of several research analyst reports. StockNews.com downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Bank of America upped their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. TD Cowen upped their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. Finally, Barrington Research lifted their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $199.80.

Insider Activity at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares of the company's stock, valued at approximately $64,883,926.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the transaction, the insider now owns 128,457 shares in the company, valued at approximately $22,208,930.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares in the company, valued at approximately $64,883,926.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,408 shares of company stock valued at $3,865,068. Insiders own 1.90% of the company's stock.

Affiliated Managers Group Stock Up 0.7 %

Shares of NYSE:AMG traded up $1.16 during trading on Friday, reaching $173.85. 138,045 shares of the company traded hands, compared to its average volume of 259,687. The firm has a fifty day simple moving average of $164.94 and a 200 day simple moving average of $161.42. The firm has a market cap of $5.54 billion, a P/E ratio of 9.74, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22. Affiliated Managers Group, Inc. has a 1-year low of $120.22 and a 1-year high of $189.81.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The company had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. During the same quarter last year, the business posted $4.45 EPS. The company's revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 21.82 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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 $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group's payout ratio is presently 0.22%.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.