Arcadia Investment Management Corp MI Reduces Position in Affiliated Managers Group, Inc. (AMG)

Arcadia Investment Management Corp MI reduced its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,319 shares of the asset manager’s stock after selling 4,390 shares during the period. Arcadia Investment Management Corp MI’s holdings in Affiliated Managers Group were worth $3,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC raised its holdings in Affiliated Managers Group by 24.5% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 28,925 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 5,698 shares in the last quarter. Zions Bancorporation acquired a new position in Affiliated Managers Group in the 3rd quarter valued at $170,000. Trust Co. of Toledo NA OH acquired a new position in Affiliated Managers Group in the 3rd quarter valued at $202,000. Candriam Luxembourg S.C.A. acquired a new position in Affiliated Managers Group in the 3rd quarter valued at $204,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Affiliated Managers Group in the 3rd quarter valued at $223,000. 92.11% of the stock is owned by institutional investors and hedge funds.

In other Affiliated Managers Group news, Director Dwight D. Churchill sold 2,034 shares of the company’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $110.53, for a total value of $224,818.02. Following the sale, the director now owns 6,522 shares in the company, valued at approximately $720,876.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Hugh Cutler purchased 1,564 shares of Affiliated Managers Group stock in a transaction on Wednesday, October 31st. The stock was bought at an average price of $115.48 per share, for a total transaction of $180,610.72. Following the transaction, the executive vice president now directly owns 7,087 shares in the company, valued at approximately $818,406.76. The disclosure for this purchase can be found here. Insiders own 0.91% of the company’s stock.

Several equities analysts have recently issued reports on the company. Credit Suisse Group decreased their price target on Affiliated Managers Group from $162.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday. Barrington Research reiterated a “buy” rating and issued a $135.00 price target on shares of Affiliated Managers Group in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research lowered Affiliated Managers Group from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. Deutsche Bank decreased their price target on Affiliated Managers Group from $187.00 to $172.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Finally, Citigroup lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Affiliated Managers Group currently has an average rating of “Hold” and a consensus target price of $148.71.

AMG stock traded down $0.09 during midday trading on Thursday, reaching $107.06. 473,131 shares of the stock were exchanged, compared to its average volume of 569,365. The firm has a market capitalization of $5.48 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.78 and a beta of 1.45. Affiliated Managers Group, Inc. has a 52 week low of $88.46 and a 52 week high of $216.99. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.07.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.42 by $0.03. The business had revenue of $601.30 million for the quarter, compared to analyst estimates of $604.82 million. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. Affiliated Managers Group’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.41 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 14.54 EPS for the current fiscal year.

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About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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

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