Fifth Third Bancorp Has $2.70 Million Holdings in Affiliated Managers Group, Inc. $AMG

Fifth Third Bancorp grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 2,863.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,749 shares of the asset manager’s stock after acquiring an additional 9,420 shares during the quarter. Fifth Third Bancorp’s holdings in Affiliated Managers Group were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Affiliated Managers Group during the fourth quarter worth $113,743,000. Balyasny Asset Management L.P. raised its stake in Affiliated Managers Group by 3,811.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after purchasing an additional 303,423 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Affiliated Managers Group in the 3rd quarter valued at $70,356,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Affiliated Managers Group by 28,466.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager’s stock valued at $58,240,000 after purchasing an additional 192,715 shares during the period. Finally, UBS Group AG grew its position in Affiliated Managers Group by 97.4% in the 3rd quarter. UBS Group AG now owns 350,212 shares of the asset manager’s stock worth $83,501,000 after purchasing an additional 172,771 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 0.8%

AMG opened at $367.04 on Tuesday. The company has a market capitalization of $9.69 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.57 and a beta of 1.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The firm’s fifty day moving average price is $335.45 and its two-hundred day moving average price is $311.43. Affiliated Managers Group, Inc. has a fifty-two week low of $200.00 and a fifty-two week high of $382.75.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. During the same quarter in the prior year, the company posted $5.37 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, analysts anticipate that Affiliated Managers Group, Inc. will post 35.48 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is presently 0.16%.

Analysts Set New Price Targets

AMG has been the topic of several research reports. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Barrington Research reiterated an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. TD Cowen reissued a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.29.

Insiders Place Their Bets

In other Affiliated Managers Group news, Director G. Staley Cates purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the transaction, the director directly owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. This trade represents a 30.58% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Christopher Ryan sold 3,402 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the transaction, the director owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. This represents a 75.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,902 shares of company stock valued at $7,257,719 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.