Fisher Asset Management LLC Acquires 40,107 Shares of Affiliated Managers Group, Inc. $AMG

Fisher Asset Management LLC grew its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 19.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 243,830 shares of the asset manager’s stock after purchasing an additional 40,107 shares during the period. Fisher Asset Management LLC’s holdings in Affiliated Managers Group were worth $70,291,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMG. Genus Capital Management Inc. grew its stake in shares of Affiliated Managers Group by 19.2% in the fourth quarter. Genus Capital Management Inc. now owns 26,985 shares of the asset manager’s stock worth $7,779,000 after purchasing an additional 4,350 shares during the last quarter. Hantz Financial Services Inc. raised its position in Affiliated Managers Group by 114.8% during the 4th quarter. Hantz Financial Services Inc. now owns 305 shares of the asset manager’s stock worth $88,000 after purchasing an additional 163 shares during the last quarter. Coldstream Capital Management Inc. raised its position in Affiliated Managers Group by 2.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after purchasing an additional 46 shares during the last quarter. Guinness Asset Management LTD lifted its holdings in Affiliated Managers Group by 23.6% during the 4th quarter. Guinness Asset Management LTD now owns 4,242 shares of the asset manager’s stock worth $1,239,000 after buying an additional 810 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in Affiliated Managers Group by 387.4% during the 4th quarter. Global Retirement Partners LLC now owns 1,043 shares of the asset manager’s stock worth $301,000 after buying an additional 829 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.0%

Shares of NYSE:AMG opened at $301.99 on Tuesday. Affiliated Managers Group, Inc. has a 1 year low of $172.54 and a 1 year high of $334.78. 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 $288.51 and its 200-day moving average is $290.59. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.52 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the firm posted $5.37 earnings per share. Equities research analysts predict that Affiliated Managers Group, Inc. will post 34.31 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be paid a $0.01 dividend. The ex-dividend date is Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.16%.

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 8,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the transaction, the chief operating officer owned 159,465 shares in the company, valued at approximately $45,654,829.50. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Christopher Ryan sold 3,402 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the transaction, the director directly owned 1,092 shares in the company, valued at $333,125.52. This trade represents a 75.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,602 shares of company stock worth $4,240,522 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMG. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Barrington Research reissued an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $362.29.

Affiliated Managers Group 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.