Dimensional Fund Advisors LP Acquires 18,865 Shares of Affiliated Managers Group, Inc. $AMG

Dimensional Fund Advisors LP lifted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 718,313 shares of the asset manager’s stock after purchasing an additional 18,865 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.71% of Affiliated Managers Group worth $198,746,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Captrust Financial Advisors boosted its holdings in Affiliated Managers Group by 3.5% in the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after purchasing an additional 34 shares in the last quarter. AlphaCore Capital LLC increased its holdings in shares of Affiliated Managers Group by 3.4% during the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 36 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after purchasing an additional 42 shares during the last quarter. Allworth Financial LP grew its holdings in Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock valued at $139,000 after purchasing an additional 45 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Affiliated Managers Group by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, Director G. Staley Cates purchased 1,500 shares of the stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the acquisition, the director directly owned 6,405 shares of the company’s stock, valued at $1,958,841.15. The trade was a 30.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the transaction, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,902 shares of company stock worth $7,257,719 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $357.38 on Friday. Affiliated Managers Group, Inc. has a 1 year low of $200.00 and a 1 year high of $382.75. The firm’s 50 day moving average is $339.24 and its 200-day moving average is $312.92. The firm has a market capitalization of $9.44 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.53 and a beta of 1.12. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share 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 business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same quarter last year, the business posted $5.37 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 35.48 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Affiliated Managers Group 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.