Affiliated Managers Group, Inc. (NYSE:AMG) Shares Sold by Hi Line Capital Management LLC

Hi Line Capital Management LLC cut its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 34.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,581 shares of the asset manager's stock after selling 3,409 shares during the quarter. Affiliated Managers Group comprises approximately 0.6% of Hi Line Capital Management LLC's investment portfolio, making the stock its 21st biggest position. Hi Line Capital Management LLC's holdings in Affiliated Managers Group were worth $1,170,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AMG. Lazard Asset Management LLC boosted its holdings in Affiliated Managers Group by 87.1% in the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager's stock valued at $3,103,000 after purchasing an additional 8,628 shares during the last quarter. Diversified Trust Co purchased a new stake in Affiliated Managers Group in the 2nd quarter valued at about $1,293,000. Susquehanna Fundamental Investments LLC purchased a new stake in Affiliated Managers Group in the 1st quarter valued at about $4,094,000. LSV Asset Management lifted its position in Affiliated Managers Group by 10.9% in the first quarter. LSV Asset Management now owns 238,504 shares of the asset manager's stock valued at $39,942,000 after buying an additional 23,454 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Affiliated Managers Group by 40.8% during the first quarter. Sei Investments Co. now owns 48,185 shares of the asset manager's stock worth $8,069,000 after buying an additional 13,968 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG traded down $0.09 during mid-day trading on Friday, hitting $193.81. The company had a trading volume of 299,329 shares, compared to its average volume of 239,682. The company has a market capitalization of $5.78 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.20. The business's 50-day simple moving average is $179.87 and its 200 day simple moving average is $168.18. Affiliated Managers Group, Inc. has a 1-year low of $123.65 and a 1-year high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly 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 return on equity of 16.50% and a net margin of 31.51%. The company had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. During the same quarter last year, the company earned $4.45 EPS. Affiliated Managers Group's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, analysts expect that Affiliated Managers Group, Inc. will post 22.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMG shares. Barrington Research restated an "outperform" rating and issued a $210.00 price objective on shares of Affiliated Managers Group in a report on Wednesday. TD Cowen raised their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, August 15th. StockNews.com cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Tuesday, July 30th. Finally, Bank of America boosted their price target 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group presently has a consensus rating of "Moderate Buy" and an average target price of $210.50.

Insider Activity at Affiliated Managers Group

In other 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 transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now directly owns 377,276 shares of the company's stock, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jay C. Horgen sold 9,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer now owns 377,276 shares of the company's stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the sale, the chief operating officer now owns 84,392 shares of the company's stock, valued at approximately $14,575,342.32. The trade was 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 valued at $3,865,068 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

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.