Thrivent Financial for Lutherans Acquires 25,394 Shares of Affiliated Managers Group, Inc. $AMG

Thrivent Financial for Lutherans boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 178.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,633 shares of the asset manager’s stock after purchasing an additional 25,394 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Affiliated Managers Group were worth $9,449,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AMG. LSV Asset Management boosted its position in shares of Affiliated Managers Group by 1.7% in the 2nd quarter. LSV Asset Management now owns 476,224 shares of the asset manager’s stock worth $93,707,000 after purchasing an additional 8,140 shares in the last quarter. Norges Bank purchased a new stake in shares of Affiliated Managers Group in the second quarter worth $71,779,000. Allianz Asset Management GmbH increased its holdings in shares of Affiliated Managers Group by 10.8% during the second quarter. Allianz Asset Management GmbH now owns 342,942 shares of the asset manager’s stock valued at $67,481,000 after acquiring an additional 33,415 shares in the last quarter. Balyasny Asset Management L.P. raised its position in shares of Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after purchasing an additional 303,423 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Affiliated Managers Group by 18.1% in the 2nd quarter. First Trust Advisors LP now owns 234,679 shares of the asset manager’s stock worth $46,178,000 after purchasing an additional 36,045 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AMG shares. The Goldman Sachs Group raised their price objective on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. UBS Group set a $295.00 price target on Affiliated Managers Group in a research note on Tuesday, November 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.50.

Affiliated Managers Group Price Performance

Shares of AMG opened at $301.22 on Friday. The firm has a market cap of $8.47 billion, a PE ratio of 17.94, a P/E/G ratio of 0.58 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $296.25 and a two-hundred day simple moving average of $256.16. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $333.99.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. During the same period last year, the business posted $4.82 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

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.