Fifth Third Bancorp Has $2.70 Million Stock Position in Affiliated Managers Group, Inc. $AMG

Fifth Third Bancorp grew its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 2,863.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,749 shares of the asset manager’s stock after buying an additional 9,420 shares during the quarter. Fifth Third Bancorp’s holdings in Affiliated Managers Group were worth $2,697,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AMG. Leonteq Securities AG acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Affiliated Managers Group in the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC increased its stake in Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after buying an additional 133 shares during the period. Arax Advisory Partners increased its stake in Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after buying an additional 96 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its position in Affiliated Managers Group by 676.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock worth $67,000 after buying an additional 203 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jay C. Horgen sold 17,500 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the transaction, the chief executive officer directly owned 204,706 shares in the company, valued at approximately $69,245,898.62. This trade represents a 7.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the transaction, the director directly owned 4,369 shares of the company’s stock, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,902 shares of company stock worth $7,257,719 in the last ninety days. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of recent research reports. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. 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. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research report on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG opened at $367.04 on Tuesday. The business’s 50-day simple moving average is $335.45 and its 200-day simple moving average is $311.43. 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, Inc. has a 52 week low of $200.00 and a 52 week high of $382.75. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 0.57 and a beta of 1.12.

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. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same period in the previous year, the company earned $5.37 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. 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. Investors of record on Monday, May 11th were issued 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 of this dividend was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.

About Affiliated Managers Group

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.