Affiliated Managers Group, Inc. $AMG Holdings Lowered by Royal Bank of Canada

Royal Bank of Canada decreased its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 26.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,216 shares of the asset manager’s stock after selling 4,500 shares during the quarter. Royal Bank of Canada’s holdings in Affiliated Managers Group were worth $3,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AMG. Boston Partners increased its stake in 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 purchasing 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 first 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. lifted its stake in Affiliated Managers Group by 20.2% during the fourth 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 boosted its holdings in shares of Affiliated Managers Group by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock worth $158,916,000 after buying an additional 41,322 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Affiliated Managers Group by 8.5% in the fourth quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager’s stock worth $122,994,000 after buying an additional 33,488 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Annette Franqui bought 750 shares of the business’s stock in a transaction on Monday, June 1st. The stock was bought at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the transaction, the director directly owned 1,962 shares in the company, valued at $598,174.56. This represents a 61.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay C. Horgen sold 17,500 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the sale, the chief executive officer owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company’s stock.

Affiliated Managers Group Trading Up 1.9%

Shares of NYSE AMG opened at $373.90 on Friday. Affiliated Managers Group, Inc. has a one year low of $215.00 and a one year high of $392.92. The firm has a market capitalization of $9.67 billion, a PE ratio of 12.95, a PEG ratio of 0.53 and a beta of 1.11. The company has a current ratio of 1.24, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $357.57 and a two-hundred day moving average price of $318.48.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.39 EPS. As a group, analysts predict that Affiliated Managers Group, Inc. will post 36.25 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be issued 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 is Monday, August 10th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.14%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. TD Cowen reissued a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Finally, Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $370.86.

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.