Public Employees Retirement System of Ohio Sells 7,664 Shares of Affiliated Managers Group, Inc. $AMG

Public Employees Retirement System of Ohio lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,819 shares of the asset manager’s stock after selling 7,664 shares during the quarter. Public Employees Retirement System of Ohio owned 0.15% of Affiliated Managers Group worth $10,741,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Leonteq Securities AG bought a new position in shares of Affiliated Managers Group during the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $42,000. EverSource Wealth Advisors LLC lifted its stake in shares of Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 133 shares during the last quarter. Arax Advisory Partners lifted its stake in shares of Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 96 shares during the last quarter. Finally, WealthCollab LLC boosted its holdings in Affiliated Managers Group by 40.5% during the 1st quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock valued at $63,000 after acquiring an additional 66 shares during the period. 95.30% of the stock is owned by institutional investors.

Insider Activity at Affiliated Managers Group

In related news, Director Annette Franqui acquired 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of $304.88 per share, with a total value of $228,660.00. Following the transaction, the director owned 1,962 shares in the company, valued at $598,174.56. This trade 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 is available at this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the transaction, the director owned 4,369 shares of the company’s stock, valued at $1,311,486.42. This trade represents a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,902 shares of company stock valued at $7,257,719 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

AMG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. 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 restated an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group has a consensus rating of “Moderate Buy” and a consensus target price of $362.29.

Affiliated Managers Group Stock Down 0.3%

NYSE AMG opened at $357.38 on Monday. Affiliated Managers Group, Inc. has a 1 year low of $200.00 and a 1 year high of $382.75. The stock has a market capitalization of $9.44 billion, a PE ratio of 14.46, a PEG ratio of 0.55 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. The business’s 50-day moving average is $339.24 and its 200 day moving average is $312.99.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same quarter in the prior year, the company posted $5.37 EPS. Affiliated Managers Group’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.

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.