Affiliated Managers Group, Inc. $AMG Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 474.6% during the first quarter, Holdings Channel reports. The firm owned 109,750 shares of the asset manager’s stock after purchasing an additional 90,650 shares during the period. Renaissance Technologies LLC’s holdings in Affiliated Managers Group were worth $30,368,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of AMG. Captrust Financial Advisors grew its position in shares of Affiliated Managers Group by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after buying an additional 34 shares during the last quarter. AlphaCore Capital LLC grew its holdings in shares of Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after purchasing an additional 36 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Affiliated Managers Group by 4.3% during the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after purchasing an additional 42 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Affiliated Managers Group by 10.3% in the 4th quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock valued at $139,000 after purchasing an additional 45 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Affiliated Managers Group by 2.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AMG. TD Cowen restated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. The Goldman Sachs Group restated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Insider Buying and Selling

In other news, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total value of $1,037,814.12. Following the sale, the director owned 1,092 shares of the company’s stock, valued at $333,125.52. The trade was a 75.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G. Staley Cates purchased 1,500 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the purchase, the director owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is currently owned by insiders.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $370.74 on Wednesday. Affiliated Managers Group, Inc. has a 12 month low of $200.00 and a 12 month high of $382.75. 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 has a 50 day simple moving average of $342.09 and a 200-day simple moving average of $313.81. The stock has a market capitalization of $9.79 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same period last year, the company earned $5.37 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts predict that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio (DPR) is 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.