Ontario Teachers Pension Plan Board Buys 786 Shares of Affiliated Managers Group, Inc. $AMG

Ontario Teachers Pension Plan Board lifted its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 58.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,139 shares of the asset manager’s stock after acquiring an additional 786 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Affiliated Managers Group were worth $421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Affiliated Managers Group by 18.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock valued at $9,028,000 after purchasing an additional 8,361 shares during the period. XTX Topco Ltd boosted its stake in Affiliated Managers Group by 189.9% in the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager’s stock worth $2,469,000 after purchasing an additional 9,626 shares during the period. Voya Investment Management LLC grew its holdings in Affiliated Managers Group by 52.2% during the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock valued at $4,823,000 after buying an additional 9,845 shares in the last quarter. Goodman Financial Corp raised its position in shares of Affiliated Managers Group by 1.6% during the first quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock valued at $13,578,000 after buying an additional 1,301 shares during the last quarter. Finally, Bailard Inc. purchased a new position in shares of Affiliated Managers Group in the first quarter worth $302,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the sale, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AMG shares. UBS Group set a $295.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. The Goldman Sachs Group raised their price objective on Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Finally, Bank of America raised their price target on Affiliated Managers Group to $335.00 and gave the company 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $290.33.

Affiliated Managers Group Trading Down 2.9%

NYSE:AMG opened at $250.89 on Tuesday. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $265.59. The stock has a fifty day simple moving average of $242.51 and a 200-day simple moving average of $214.54.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $543.39 million. During the same period in the prior year, the business posted $4.82 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Thursday, November 13th will be paid 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 of this dividend is Thursday, November 13th. Affiliated Managers Group’s payout ratio is currently 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.