Lecap Asset Management Ltd. Decreases Stock Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Lecap Asset Management Ltd. reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 64.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,721 shares of the asset manager's stock after selling 4,930 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Affiliated Managers Group were worth $484,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AMG. Ariel Investments LLC boosted its stake in shares of Affiliated Managers Group by 8.7% during the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager's stock valued at $225,411,000 after purchasing an additional 115,808 shares during the period. Victory Capital Management Inc. lifted its stake in Affiliated Managers Group by 150.1% in the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager's stock worth $15,530,000 after acquiring an additional 59,659 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Affiliated Managers Group by 36.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager's stock worth $29,731,000 after acquiring an additional 47,239 shares during the period. Algert Global LLC lifted its stake in Affiliated Managers Group by 74.8% in the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager's stock worth $13,944,000 after acquiring an additional 38,206 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Affiliated Managers Group by 59.1% in the second quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager's stock worth $14,092,000 after acquiring an additional 33,500 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Rizwan M. Jamal sold 8,622 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Rizwan M. Jamal sold 8,622 shares of the stock in a transaction that occurred 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,408 shares of company stock worth $3,865,068 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Affiliated Managers Group Price Performance

Shares of AMG stock traded up $1.28 during mid-day trading on Friday, hitting $191.35. 157,952 shares of the stock traded hands, compared to its average volume of 241,069. The stock has a market cap of $6.10 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.58 and a beta of 1.20. The stock's fifty day moving average is $177.63 and its two-hundred day moving average is $167.22. Affiliated Managers Group, Inc. has a 52-week low of $121.56 and a 52-week high of $196.69.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $500.30 million for the quarter, compared to the consensus estimate of $518.03 million. During the same quarter in the prior year, the company posted $4.45 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts forecast that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.22%.

Analysts Set New Price Targets

AMG has been the subject of a number of research reports. Barrington Research upped their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Bank of America upped their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. TD Cowen increased 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, StockNews.com lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.50.

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.