Allianz Asset Management GmbH Grows Stock Holdings in Affiliated Managers Group, Inc. $AMG

Allianz Asset Management GmbH raised its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 8.5% during the fourth quarter, HoldingsChannel reports. The firm owned 426,649 shares of the asset manager’s stock after purchasing an additional 33,488 shares during the period. Allianz Asset Management GmbH’s holdings in Affiliated Managers Group were worth $122,994,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Cerity Partners LLC increased its holdings in Affiliated Managers Group by 35.2% during the 4th quarter. Cerity Partners LLC now owns 3,778 shares of the asset manager’s stock valued at $1,089,000 after purchasing an additional 984 shares during the period. LPL Financial LLC boosted its position in shares of Affiliated Managers Group by 89.7% in the 4th quarter. LPL Financial LLC now owns 11,781 shares of the asset manager’s stock worth $3,396,000 after purchasing an additional 5,571 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in Affiliated Managers Group by 18.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,147 shares of the asset manager’s stock valued at $2,637,000 after acquiring an additional 1,409 shares in the last quarter. CenterBook Partners LP bought a new position in Affiliated Managers Group in the 4th quarter valued at approximately $400,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Affiliated Managers Group by 6.6% during the 4th quarter. JPMorgan Chase & Co. now owns 133,897 shares of the asset manager’s stock valued at $38,600,000 after buying an additional 8,254 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, Director G. Staley Cates bought 1,500 shares of the firm’s stock in a transaction that occurred 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 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 21,902 shares of company stock valued at $7,257,719. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $335.33 on Thursday. The company’s 50 day moving average is $299.19 and its 200 day moving average is $295.91. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. Affiliated Managers Group, Inc. has a 52-week low of $179.79 and a 52-week high of $348.15. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.58 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $544.01 million. During the same period in the previous year, the company earned $5.37 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Analyst Upgrades and Downgrades

AMG has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. 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. Barrington Research reaffirmed an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a report on Monday, April 27th. Finally, TD Cowen reissued a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $362.29.

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.