Strs Ohio Takes $2.15 Million Position in Affiliated Managers Group, Inc. $AMG

Strs Ohio bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,805 shares of the asset manager’s stock, valued at approximately $2,152,000.

Other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers lifted its holdings in Affiliated Managers Group by 2.5% during the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager’s stock worth $536,000 after acquiring an additional 70 shares in the last quarter. Focus Partners Wealth bought a new stake in Affiliated Managers Group during the fourth quarter worth about $683,000. NorthRock Partners LLC bought a new stake in Affiliated Managers Group during the fourth quarter worth about $221,000. Nomura Holdings Inc. bought a new stake in Affiliated Managers Group in the fourth quarter valued at approximately $1,278,000. Finally, Quantinno Capital Management LP raised its stake in Affiliated Managers Group by 21.9% in the fourth quarter. Quantinno Capital Management LP now owns 14,705 shares of the asset manager’s stock valued at $2,719,000 after buying an additional 2,639 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMG shares. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. The Goldman Sachs Group raised Affiliated Managers Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Barrington Research reaffirmed an “outperform” rating and set a $200.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Finally, Bank of America raised Affiliated Managers Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $236.00 to $331.00 in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group has a consensus rating of “Buy” and an average target price of $242.40.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $234.86 on Tuesday. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.62 and a beta of 1.19. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $238.29. The company’s fifty day simple moving average is $217.78 and its two-hundred day simple moving average is $188.42.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million for the quarter, compared to analysts’ expectations of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.67 earnings per share. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.29%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.