Allworth Financial LP Grows Stock Holdings in Affiliated Managers Group, Inc. $AMG

Allworth Financial LP raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 347.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 403 shares of the asset manager’s stock after acquiring an additional 313 shares during the period. Allworth Financial LP’s holdings in Affiliated Managers Group were worth $79,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Clarkston Capital Partners LLC grew its position in shares of Affiliated Managers Group by 0.8% in the first quarter. Clarkston Capital Partners LLC now owns 1,585,324 shares of the asset manager’s stock valued at $266,382,000 after purchasing an additional 13,135 shares during the period. Millennium Management LLC boosted its stake in Affiliated Managers Group by 314.3% in the 1st quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock worth $212,668,000 after buying an additional 960,158 shares during the last quarter. LSV Asset Management boosted its stake in Affiliated Managers Group by 10.4% in the 1st quarter. LSV Asset Management now owns 468,084 shares of the asset manager’s stock worth $78,652,000 after buying an additional 44,090 shares during the last quarter. Northern Trust Corp grew its holdings in Affiliated Managers Group by 10.2% in the 1st quarter. Northern Trust Corp now owns 385,292 shares of the asset manager’s stock valued at $64,741,000 after buying an additional 35,681 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Affiliated Managers Group by 10.8% during the 2nd quarter. Allianz Asset Management GmbH now owns 342,942 shares of the asset manager’s stock valued at $67,481,000 after acquiring an additional 33,415 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 1.7%

Shares of AMG stock opened at $257.25 on Friday. The firm has a fifty day simple moving average of $244.07 and a 200-day simple moving average of $216.20. The company has a market capitalization of $7.24 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $265.59.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. The firm had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.82 EPS. Equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be paid a $0.01 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.24%.

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the sale, the chief operating officer directly owned 158,710 shares in the company, valued at $36,666,771.30. The trade was a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMG. Jefferies Financial Group reissued a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. TD Cowen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $214.00 to $255.00 in a report on Monday, August 4th. UBS Group set a $295.00 price objective on Affiliated Managers Group in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. Finally, Barrington Research lifted their target price on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of “Buy” and a consensus target price of $290.33.

About Affiliated Managers Group

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.