Tyers Asset Management LLC Boosts Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Tyers Asset Management LLC lifted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 27.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,824 shares of the asset manager’s stock after buying an additional 9,872 shares during the period. Tyers Asset Management LLC’s holdings in Affiliated Managers Group were worth $4,908,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Bank of Nova Scotia increased its holdings in shares of Affiliated Managers Group by 332.7% in the 4th quarter. Bank of Nova Scotia now owns 40,701 shares of the asset manager’s stock worth $3,965,000 after buying an additional 31,295 shares during the last quarter. Norges Bank purchased a new position in shares of Affiliated Managers Group during the 4th quarter worth about $45,931,000. Dimensional Fund Advisors LP boosted its stake in shares of Affiliated Managers Group by 15.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 344,237 shares of the asset manager’s stock worth $33,541,000 after purchasing an additional 46,000 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Affiliated Managers Group by 0.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,179,673 shares of the asset manager’s stock worth $126,354,000 after purchasing an additional 7,655 shares during the period. Finally, Prudential Financial Inc. boosted its stake in shares of Affiliated Managers Group by 38.0% during the 4th quarter. Prudential Financial Inc. now owns 148,218 shares of the asset manager’s stock worth $14,442,000 after purchasing an additional 40,803 shares during the period. Hedge funds and other institutional investors own 94.71% of the company’s stock.

A number of research firms recently commented on AMG. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Tuesday, April 2nd. Barrington Research reaffirmed a “buy” rating and set a $135.00 price target on shares of Affiliated Managers Group in a research note on Tuesday, April 30th. Deutsche Bank dropped their price target on shares of Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating for the company in a research note on Tuesday, May 7th. ValuEngine cut shares of Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Finally, Bank of America reaffirmed a “buy” rating and set a $97.00 price target (down from $113.00) on shares of Affiliated Managers Group in a research note on Thursday, June 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Affiliated Managers Group presently has an average rating of “Hold” and an average target price of $126.73.

Shares of AMG stock traded up $0.38 during trading hours on Tuesday, reaching $90.56. 4,566 shares of the stock were exchanged, compared to its average volume of 548,745. Affiliated Managers Group, Inc. has a 12-month low of $83.10 and a 12-month high of $166.62. The stock has a market cap of $4.57 billion, a PE ratio of 6.24, a P/E/G ratio of 0.64 and a beta of 1.63.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, May 6th. The asset manager reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.27 by ($0.01). The company had revenue of $543.10 million during the quarter, compared to analysts’ expectations of $541.42 million. Affiliated Managers Group had a negative net margin of 4.77% and a positive return on equity of 17.72%. Affiliated Managers Group’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the firm earned $3.92 earnings per share. On average, equities research analysts predict that Affiliated Managers Group, Inc. will post 13.74 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th were given a $0.32 dividend. The ex-dividend date was Wednesday, May 15th. This represents a $1.28 annualized dividend and a yield of 1.41%. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.83%.

In related news, insider Jay C. Horgen acquired 11,000 shares of the stock in a transaction on Friday, May 10th. The stock was bought at an average cost of $93.19 per share, with a total value of $1,025,090.00. Following the transaction, the insider now directly owns 115,527 shares in the company, valued at $10,765,961.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.43% of the stock is owned by insiders.

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Affiliated Managers Group Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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