Affiliated Managers Group, Inc. $AMG Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its stake in Affiliated Managers Group by 10.8%, now owning 342,942 shares valued at approximately $67.5 million.
• Institutional investors and hedge funds own 95.30% of the company's stock, indicating strong institutional interest in the firm.
• Affiliated Managers Group reported earnings of $5.39 per share, surpassing estimates, but revenue fell 1.4% year-over-year.

Allianz Asset Management GmbH increased its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 10.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 342,942 shares of the asset manager's stock after purchasing an additional 33,415 shares during the period. Allianz Asset Management GmbH owned 1.21% of Affiliated Managers Group worth $67,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in Affiliated Managers Group by 18.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock worth $9,028,000 after purchasing an additional 8,361 shares in the last quarter. Private Trust Co. NA boosted its stake in Affiliated Managers Group by 38.1% in the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after purchasing an additional 83 shares in the last quarter. XTX Topco Ltd boosted its stake in Affiliated Managers Group by 189.9% in the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock worth $2,469,000 after purchasing an additional 9,626 shares in the last quarter. Goodman Financial Corp raised its position in Affiliated Managers Group by 1.6% during the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager's stock worth $13,578,000 after buying an additional 1,301 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in Affiliated Managers Group by 52.2% during the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager's stock worth $4,823,000 after buying an additional 9,845 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares of the company's stock, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMG. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. Bank of America raised their price target on shares of Affiliated Managers Group to $335.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. Finally, Zacks Research lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 10th. Seven equities 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 currently has an average rating of "Moderate Buy" and an average target price of $272.60.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $233.88 on Friday. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21. The company has a 50 day moving average price of $231.63 and a 200-day moving average price of $199.73. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $250.15.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.67 EPS. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.29%.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.

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