California Public Employees Retirement System Acquires 2,569 Shares of Affiliated Managers Group, Inc. $AMG

California Public Employees Retirement System raised its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 69,902 shares of the asset manager’s stock after purchasing an additional 2,569 shares during the period. California Public Employees Retirement System’s holdings in Affiliated Managers Group were worth $19,342,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMG. Oak Thistle LLC increased its position in shares of Affiliated Managers Group by 194.1% during the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after purchasing an additional 5,742 shares during the period. Altfest L J & Co. Inc. bought a new position in Affiliated Managers Group in the fourth quarter worth $1,179,000. Fisher Asset Management LLC boosted its stake in Affiliated Managers Group by 19.7% during the fourth quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock worth $70,291,000 after buying an additional 40,107 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Affiliated Managers Group by 20.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock worth $7,149,000 after buying an additional 4,258 shares in the last quarter. Finally, Chase Investment Counsel Corp bought a new stake in Affiliated Managers Group in the 4th quarter valued at $4,962,000. Institutional investors own 95.30% of the company’s stock.

Insider Activity

In other news, Director Annette Franqui acquired 750 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $304.88 per share, with a total value of $228,660.00. Following the completion of the acquisition, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This represents a 61.88% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director G. Staley Cates bought 1,500 shares of the business’s stock in a transaction dated 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 purchase, 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 position. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 21,902 shares of company stock valued at $7,257,719. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the subject of a number of recent research reports. TD Cowen restated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Finally, Barrington Research reiterated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Stock Up 0.0%

Shares of NYSE AMG opened at $346.83 on Friday. The stock has a market cap of $9.16 billion, a PE ratio of 14.03, a PEG ratio of 0.53 and a beta of 1.12. The business has a fifty day moving average of $337.97 and a two-hundred day moving average of $312.61. Affiliated Managers Group, Inc. has a 52-week low of $200.00 and a 52-week high of $382.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.37 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

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.