394,559 Shares in Affiliated Managers Group, Inc. $AMG Purchased by Norges Bank

Norges Bank bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 4th quarter, HoldingsChannel reports. The firm bought 394,559 shares of the asset manager’s stock, valued at approximately $113,743,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Balyasny Asset Management L.P. raised its holdings in shares of Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after purchasing an additional 303,423 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Affiliated Managers Group during the third quarter valued at approximately $70,356,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Affiliated Managers Group by 28,466.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager’s stock valued at $58,240,000 after purchasing an additional 192,715 shares in the last quarter. UBS Group AG increased its holdings in Affiliated Managers Group by 97.4% during the third quarter. UBS Group AG now owns 350,212 shares of the asset manager’s stock valued at $83,501,000 after buying an additional 172,771 shares during the period. Finally, Holocene Advisors LP raised its stake in Affiliated Managers Group by 151.5% in the third quarter. Holocene Advisors LP now owns 253,935 shares of the asset manager’s stock worth $60,546,000 after buying an additional 152,982 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barrington Research restated an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a report on Monday, April 27th. TD Cowen reissued a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. The Goldman Sachs Group restated a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $362.29.

Insider Buying and Selling

In other Affiliated Managers Group news, Director David Christopher Ryan sold 3,402 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total value of $1,037,814.12. Following the completion of the sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the business’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 6,602 shares of company stock valued at $1,950,122 in the last 90 days. 2.90% of the stock is owned by insiders.

Affiliated Managers Group Price Performance

Shares of AMG opened at $334.50 on Friday. The company has a 50 day moving average of $294.06 and a two-hundred day moving average of $293.49. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. Affiliated Managers Group, Inc. has a twelve month low of $179.04 and a twelve month high of $336.76. The company has a market cap of $8.83 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.53 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last issued 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 firm had revenue of $544.90 million during 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%.The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.37 EPS. As a group, analysts predict that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a 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%.

Affiliated Managers Group 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.