Public Employees Retirement System of Ohio Lowers Position in Affiliated Managers Group, Inc. $AMG

Public Employees Retirement System of Ohio cut its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 16.5% during the 1st quarter, HoldingsChannel reports. The firm owned 38,819 shares of the asset manager’s stock after selling 7,664 shares during the period. Public Employees Retirement System of Ohio’s holdings in Affiliated Managers Group were worth $10,741,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMG. Captrust Financial Advisors lifted its position in Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after buying an additional 34 shares during the period. AlphaCore Capital LLC grew its position in shares of Affiliated Managers Group by 3.4% in the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after buying an additional 36 shares during the period. Parallel Advisors LLC increased its stake in shares of Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after acquiring an additional 42 shares in the last quarter. Allworth Financial LP increased its stake in shares of Affiliated Managers Group by 10.3% in the 4th quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after acquiring an additional 45 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Affiliated Managers Group by 2.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after acquiring an additional 46 shares during the period. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Affiliated Managers Group Price Performance

AMG opened at $357.38 on Monday. The firm has a market cap of $9.44 billion, a PE ratio of 14.46, a P/E/G ratio of 0.55 and a beta of 1.12. The stock has a 50-day moving average price of $339.24 and a 200-day moving average price of $312.99. Affiliated Managers Group, Inc. has a 1 year low of $200.00 and a 1 year high of $382.75. 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 announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating the consensus estimate of $8.10 by $0.13. The company had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. Affiliated Managers Group’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.37 EPS. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Activity

In other news, Director G. Staley Cates purchased 1,500 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the transaction, the director directly owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. The trade was a 30.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 4,369 shares of the company’s stock, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 21,902 shares of company stock valued at $7,257,719. Company 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.