Weiss Multi Strategy Advisers LLC Takes Position in Affiliated Managers Group, Inc. (AMG)

Weiss Multi Strategy Advisers LLC bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the first quarter, Holdings Channel reports. The fund bought 2,483 shares of the asset manager’s stock, valued at approximately $407,000.

Several other large investors also recently added to or reduced their stakes in AMG. Chevy Chase Trust Holdings Inc. boosted its stake in Affiliated Managers Group by 6.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 48,882 shares of the asset manager’s stock worth $8,014,000 after buying an additional 3,076 shares in the last quarter. FMR LLC boosted its stake in Affiliated Managers Group by 108.8% in the fourth quarter. FMR LLC now owns 753,403 shares of the asset manager’s stock worth $109,469,000 after buying an additional 392,642 shares in the last quarter. Bank of Montreal Can boosted its stake in Affiliated Managers Group by 44.9% in the first quarter. Bank of Montreal Can now owns 43,685 shares of the asset manager’s stock worth $7,161,000 after buying an additional 13,540 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Affiliated Managers Group by 30.4% in the fourth quarter. Guggenheim Capital LLC now owns 201,049 shares of the asset manager’s stock worth $29,213,000 after buying an additional 46,901 shares in the last quarter. Finally, Comerica Bank boosted its stake in Affiliated Managers Group by 0.5% in the fourth quarter. Comerica Bank now owns 13,289 shares of the asset manager’s stock worth $1,908,000 after buying an additional 63 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) opened at 161.27 on Monday. 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 price is $157.07 and its 200 day moving average price is $157.55. The stock has a market capitalization of $9.13 billion, a PE ratio of 18.34 and a beta of 1.65.

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

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AMG has been the topic of a number of recent research reports. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. TheStreet raised Affiliated Managers Group from a “c+” rating to a “b” rating in a research note on Monday, March 20th. Citigroup Inc. reissued a “buy” rating on shares of Affiliated Managers Group in a research note on Tuesday, May 2nd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $185.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, April 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Monday, March 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $187.50.

In other Affiliated Managers Group news, CEO Sean M. Healey sold 56,928 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the sale, the chief executive officer now owns 206,689 shares in the company, valued at approximately $33,291,397.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dwight D. Churchill sold 3,277 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $163.30, for a total value of $535,134.10. Following the sale, the director now owns 7,301 shares in the company, valued at approximately $1,192,253.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,107 shares of company stock worth $11,065,554. Company insiders own 1.96% of the company’s stock.

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.

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG).

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