Affiliated Managers Group, Inc. $AMG Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 10.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,728 shares of the asset manager’s stock after selling 1,891 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.06% of Affiliated Managers Group worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Affiliated Managers Group during the second quarter worth about $71,779,000. Balyasny Asset Management L.P. increased its position in Affiliated Managers Group by 3,811.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after purchasing an additional 303,423 shares in the last quarter. Holocene Advisors LP purchased a new position in Affiliated Managers Group in the second quarter valued at approximately $19,865,000. Treasurer of the State of North Carolina lifted its position in Affiliated Managers Group by 124.5% during the second quarter. Treasurer of the State of North Carolina now owns 96,177 shares of the asset manager’s stock valued at $18,925,000 after buying an additional 53,330 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Affiliated Managers Group by 14.6% during the third quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock valued at $93,741,000 after buying an additional 50,219 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $308.20 on Thursday. Affiliated Managers Group, Inc. has a 12-month low of $139.22 and a 12-month high of $333.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 0.56 and a beta of 1.21. The firm’s fifty day moving average price is $299.21 and its 200 day moving average price is $259.14.

Wall Street Analysts Forecast Growth

AMG has been the subject of several recent research reports. Barrington Research increased their price objective on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 price target on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and an average target price of $340.50.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.