PNC Financial Services Group Inc. Sells 1,566 Shares of Affiliated Managers Group, Inc. (AMG)

PNC Financial Services Group Inc. decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,744 shares of the asset manager’s stock after selling 1,566 shares during the period. PNC Financial Services Group Inc.’s holdings in Affiliated Managers Group were worth $2,745,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AMG. OppenheimerFunds Inc. boosted its stake in shares of Affiliated Managers Group by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 1,935 shares of the asset manager’s stock valued at $317,000 after buying an additional 7 shares during the last quarter. Duncker Streett & Co. Inc. boosted its stake in shares of Affiliated Managers Group by 0.6% in the first quarter. Duncker Streett & Co. Inc. now owns 1,700 shares of the asset manager’s stock valued at $279,000 after buying an additional 10 shares during the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Affiliated Managers Group by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 2,319 shares of the asset manager’s stock valued at $380,000 after buying an additional 16 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in shares of Affiliated Managers Group by 0.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 5,215 shares of the asset manager’s stock valued at $855,000 after buying an additional 20 shares during the last quarter. Finally, WMS Partners LLC boosted its stake in shares of Affiliated Managers Group by 1.7% in the first quarter. WMS Partners LLC now owns 1,627 shares of the asset manager’s stock valued at $267,000 after buying an additional 27 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

Affiliated Managers Group, Inc. (NYSE:AMG) traded down 0.13% during trading on Tuesday, hitting $166.16. 83,847 shares of the company traded hands. Affiliated Managers Group, Inc. has a 52-week low of $130.48 and a 52-week high of $171.65. The company’s 50-day moving average is $156.79 and its 200 day moving average is $157.41. The firm has a market cap of $9.40 billion, a price-to-earnings ratio of 18.90 and a beta of 1.65.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, May 1st. The asset manager reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.03. Affiliated Managers Group had a return on equity of 17.53% and a net margin of 22.31%. The company had revenue of $544.30 million during the quarter, compared to the consensus estimate of $551.56 million. During the same quarter last year, the company earned $2.94 earnings per share. Affiliated Managers Group’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post $14.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Tuesday, May 9th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 9.12%.

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AMG has been the subject of several research reports. TheStreet upgraded shares of Affiliated Managers Group from a “c+” rating to a “b” rating in a research note on Monday, March 20th. Jefferies Group LLC restated a “buy” rating on shares of Affiliated Managers Group in a research note on Monday, March 27th. Keefe, Bruyette & Woods restated a “buy” rating and set a $185.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, April 4th. Deutsche Bank AG decreased their price objective on shares of Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating for the company in a research note on Tuesday, April 18th. Finally, Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Tuesday, April 18th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $187.50.

In other Affiliated Managers Group news, CEO Sean M. Healey sold 56,928 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total value of $9,169,392.96. Following the completion of the sale, the chief executive officer now owns 206,689 shares of the company’s stock, valued at $33,291,397.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dwight D. Churchill sold 3,277 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were 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 approximately $1,192,253.30. The disclosure for this sale can be found here. In the last three months, insiders sold 69,107 shares of company stock valued at $11,065,554. 1.96% of the stock is owned by corporate 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “AMG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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