Empowered Funds LLC Acquires 65,597 Shares of Affiliated Managers Group, Inc. $AMG

Empowered Funds LLC boosted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 657.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,572 shares of the asset manager’s stock after purchasing an additional 65,597 shares during the quarter. Empowered Funds LLC’s holdings in Affiliated Managers Group were worth $20,911,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Boston Partners grew its stake in shares of Affiliated Managers Group by 2.1% in the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock worth $275,957,000 after buying an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 valued at $198,746,000 after buying an additional 18,865 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its position in shares of 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 valued at $197,641,000 after buying an additional 115,313 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Affiliated Managers Group by 8.1% in 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 last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Affiliated Managers Group by 8.5% in 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 last quarter. Institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMG shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Barrington Research reiterated an “outperform” rating and issued 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 set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Stock Up 1.9%

Shares of NYSE:AMG opened at $370.74 on Wednesday. Affiliated Managers Group, Inc. has a 1 year low of $200.00 and a 1 year high of $382.75. The business has a 50 day simple moving average of $342.09 and a two-hundred day simple moving average of $313.81. The firm has a market capitalization of $9.79 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 0.56 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 issued its quarterly 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 for the quarter, compared to the consensus estimate of $544.01 million. During the same period in the prior year, the business posted $5.37 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts predict that Affiliated Managers Group, Inc. will post 35.48 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a $0.01 dividend. 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 0.16%.

Insiders Place Their Bets

In related news, Director Annette Franqui bought 750 shares of the stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the purchase, the director owned 1,962 shares of the company’s stock, valued at $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G. Staley Cates bought 1,500 shares of the stock in a transaction dated Wednesday, May 6th. The shares were bought at an average cost of $305.83 per share, with a total value of $458,745.00. Following the completion of the purchase, the director directly owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. This trade represents a 30.58% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 21,902 shares of company stock valued at $7,257,719. Insiders own 2.90% of the company’s stock.

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.