Commerce Bank Lowers Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Commerce Bank decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,586 shares of the asset manager’s stock after selling 153 shares during the period. Commerce Bank’s holdings in Affiliated Managers Group were worth $1,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMG. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Affiliated Managers Group by 131.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 56,129 shares of the asset manager’s stock valued at $6,013,000 after purchasing an additional 31,919 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Affiliated Managers Group by 0.5% in the first quarter. Victory Capital Management Inc. now owns 362,263 shares of the asset manager’s stock valued at $53,988,000 after purchasing an additional 1,762 shares during the period. Natixis Advisors L.P. lifted its stake in shares of Affiliated Managers Group by 0.6% in the first quarter. Natixis Advisors L.P. now owns 11,515 shares of the asset manager’s stock valued at $1,716,000 after purchasing an additional 74 shares during the period. Tolleson Wealth Management Inc. acquired a new stake in shares of Affiliated Managers Group in the first quarter valued at about $218,000. Finally, Wade G W & Inc. acquired a new stake in shares of Affiliated Managers Group in the first quarter valued at about $234,000. Hedge funds and other institutional investors own 98.38% of the company’s stock.

In related news, Director Dwight D. Churchill bought 1,000 shares of the stock in a transaction that occurred on Monday, August 2nd. The stock was purchased at an average cost of $160.89 per share, for a total transaction of $160,890.00. Following the completion of the acquisition, the director now owns 13,635 shares in the company, valued at $2,193,735.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on AMG shares. Barrington Research lifted their target price on shares of Affiliated Managers Group from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 6th. Citigroup restated a “buy” rating and set a $246.00 target price (up previously from $213.00) on shares of Affiliated Managers Group in a research report on Wednesday, July 7th. lifted their target price on shares of Affiliated Managers Group from $213.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, July 7th. lifted their target price on shares of Affiliated Managers Group from $213.00 to $246.00 and gave the stock a “buy” rating in a research report on Wednesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $167.00 to $202.00 in a research report on Monday, July 12th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus target price of $213.00.

NYSE:AMG opened at $160.52 on Friday. The firm has a 50 day simple moving average of $166.27 and a 200-day simple moving average of $159.09. The firm has a market cap of $6.62 billion, a PE ratio of 10.16, a P/E/G ratio of 0.63 and a beta of 1.37. Affiliated Managers Group, Inc. has a 1-year low of $62.19 and a 1-year high of $180.97.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Tuesday, July 27th. The asset manager reported $4.03 earnings per share for the quarter, beating analysts’ consensus estimates of $3.85 by $0.18. The business had revenue of $586.30 million during the quarter, compared to analyst estimates of $590.66 million. Affiliated Managers Group had a net margin of 20.33% and a return on equity of 20.31%. Equities analysts expect that Affiliated Managers Group, Inc. will post 17.01 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Friday, August 6th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, August 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.30%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. It provides assistance on strategic matters, marketing, distribution, product development, and operations. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.

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

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