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

California Public Employees Retirement System boosted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,902 shares of the asset manager’s stock after buying an additional 2,569 shares during the quarter. California Public Employees Retirement System owned 0.26% of Affiliated Managers Group worth $19,342,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of AMG. Leonteq Securities AG purchased a new stake in shares of Affiliated Managers Group in the fourth quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Affiliated Managers Group during the 4th quarter worth about $42,000. Arax Advisory Partners boosted its stake in shares of Affiliated Managers Group by 94.1% during the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after purchasing an additional 96 shares during the period. CIBC Private Wealth Group LLC grew its holdings in Affiliated Managers Group by 676.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 203 shares during the last quarter. Finally, Highlander Partners L.P. bought a new position in Affiliated Managers Group during the 4th quarter valued at about $68,000. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AMG. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.29.

Affiliated Managers Group Trading Up 0.0%

AMG stock opened at $346.83 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $200.00 and a 12 month high of $382.75. The firm’s 50-day moving average is $337.97 and its 200 day moving average is $312.61. The company has a market capitalization of $9.16 billion, a PE ratio of 14.03, a P/E/G ratio of 0.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.13. The company had revenue of $544.90 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $5.37 EPS. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 35.48 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared 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 of this dividend was Monday, May 11th. Affiliated Managers Group’s payout ratio is currently 0.16%.

Insider Transactions at Affiliated Managers Group

In other news, Director Annette Franqui acquired 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the acquisition, the director directly owned 1,962 shares of the company’s stock, valued at $598,174.56. This trade represents a 61.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total value of $1,037,814.12. Following the sale, the director directly owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. This trade represents a 75.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,902 shares of company stock valued at $7,257,719 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

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.