Illinois Municipal Retirement Fund Buys 5,594 Shares of Affiliated Managers Group, Inc. $AMG

Illinois Municipal Retirement Fund grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 43.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,434 shares of the asset manager’s stock after acquiring an additional 5,594 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Affiliated Managers Group worth $3,627,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after buying an additional 107 shares during the last quarter. Millstone Evans Group LLC increased its position in shares of Affiliated Managers Group by 154.5% during the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 102 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Affiliated Managers Group in the 1st quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Affiliated Managers Group by 80.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock worth $45,000 after acquiring an additional 102 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new position in Affiliated Managers Group in the 1st quarter valued at approximately $56,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group set a $295.00 price target on Affiliated Managers Group in a report on Tuesday, November 4th. TD Cowen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and upped their target price for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $282.00 price target on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Finally, Bank of America raised their target price on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus price target of $290.33.

Insider Transactions at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares in the company, valued at $36,666,771.30. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by company insiders.

Affiliated Managers Group Trading Up 2.6%

NYSE AMG opened at $264.24 on Thursday. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $264.81. The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 0.61 and a beta of 1.25. The company’s 50 day moving average is $241.04 and its two-hundred day moving average is $212.30.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.88 by $0.22. The company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $543.39 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. Affiliated Managers Group’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.82 EPS. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio is presently 0.24%.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.