Renaissance Technologies LLC Increases Position in Affiliated Managers Group, Inc. $AMG

Renaissance Technologies LLC grew its position in shares of Affiliated Managers Group, Inc. (NYSE:AMGFree Report) by 474.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,750 shares of the asset manager’s stock after purchasing an additional 90,650 shares during the period. Renaissance Technologies LLC owned approximately 0.42% of Affiliated Managers Group worth $30,368,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of AMG. Boston Partners grew its stake in shares of Affiliated Managers Group by 2.1% in the third quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after buying an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Affiliated Managers Group by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock worth $198,746,000 after acquiring an additional 18,865 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Affiliated Managers Group by 20.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock worth $197,641,000 after acquiring an additional 115,313 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Affiliated Managers Group by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock valued at $158,916,000 after acquiring an additional 41,322 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in Affiliated Managers Group by 8.5% during the 4th quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager’s stock valued at $122,994,000 after acquiring an additional 33,488 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research 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. TD Cowen reaffirmed a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Finally, Barrington Research reiterated an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a report on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $362.29.

View Our Latest Analysis on Affiliated Managers Group

Insider Activity at Affiliated Managers Group

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. This trade represents a 18.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Christopher Ryan sold 3,402 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the transaction, the director owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. The trade was a 75.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $370.74 on Wednesday. The stock’s 50-day moving average is $342.09 and its two-hundred day moving average is $313.81. 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, Inc. has a 1-year low of $200.00 and a 1-year high of $382.75. The company has a market cap of $9.79 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMGGet Free Report) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. The company had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.Affiliated Managers Group’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $5.37 EPS. Analysts forecast that Affiliated Managers Group, Inc. will post 35.48 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Affiliated Managers Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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