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AFFILIATED MANAGERS GROUP, INC. (AMG) News
JPMorgan Chase & Co. Sells 747,905 Shares of Affiliated Managers Group, Inc. (AMG)
JPMorgan Chase & Co. lowered its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 59.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 510,283 shares of the asset manager’s stock after selling 747,905 shares during the period. JPMorgan Chase & Co. owned about 0.91% of Affiliated Managers Group worth $84,636,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of AMG. Louisiana State Employees Retirement System lifted its position in Affiliated Managers Group by 2.9% during the first quarter. Louisiana State Employees Retirement System now owns 3,500 shares of the asset manager’s stock valued at $574,000 after purchasing an additional 100 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Affiliated Managers Group in the first quarter valued at about $104,000. Waldron LP purchased a new position in shares of Affiliated Managers Group in the first quarter valued at about $236,000. Profund Advisors LLC lifted its position in shares of Affiliated Managers Group by 5.6% in the first quarter. Profund Advisors LLC now owns 1,920 shares of the asset manager’s stock valued at $315,000 after acquiring an additional 102 shares in the last quarter. Finally, Strs Ohio lifted its position in shares of Affiliated Managers Group by 168.7% in the first quarter. Strs Ohio now owns 2,182 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 1,370 shares in the last quarter. 96.16% of the stock is owned by institutional investors.
Shares of Affiliated Managers Group, Inc. (NYSE:AMG) opened at 184.97 on Monday. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 20.49 and a beta of 1.66. Affiliated Managers Group, Inc. has a 12-month low of $130.48 and a 12-month high of $187.08. The firm’s 50-day moving average price is $177.13 and its 200-day moving average price is $166.93.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.09. The firm had revenue of $570.90 million for the quarter, compared to the consensus estimate of $573.73 million. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. Affiliated Managers Group’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $3.07 EPS. On average, analysts forecast that Affiliated Managers Group, Inc. will post $14.55 EPS for the current fiscal year.
Several equities research analysts have recently issued reports on the company. BidaskClub cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a “buy” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, August 3rd. Credit Suisse Group boosted their price objective on Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $195.50.Get Started today! - Risk Free