Affiliated Managers Group, Inc. $AMG Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its AMG stake by 22.7% in the first quarter, bringing its holdings to 32,852 shares valued at approximately $9.09 million. Institutional investors collectively own 95.3% of the company.
• AMG reported quarterly earnings of $8.29 per share, exceeding analysts’ $7.90 estimate, while revenue of $640.7 million also topped expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $370.86.
• The stock traded up 3.9% to $381.16 and is near its 12-month high, while insiders sold 21,902 shares worth approximately $7.26 million over the past quarter. AMG also declared a $0.01 quarterly dividend.

California State Teachers Retirement System increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 22.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 32,852 shares of the asset manager's stock after acquiring an additional 6,087 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Affiliated Managers Group worth $9,090,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Boston Partners raised its holdings in Affiliated Managers Group by 2.1% in the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager's stock valued at $275,957,000 after buying an additional 24,217 shares during the period. Dimensional Fund Advisors LP boosted its stake in Affiliated Managers Group by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager's stock worth $198,746,000 after buying an additional 18,865 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in Affiliated Managers Group by 20.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager's stock worth $197,641,000 after buying an additional 115,313 shares during the period. Geode Capital Management LLC increased its position in shares of Affiliated Managers Group by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager's stock valued at $158,916,000 after acquiring an additional 41,322 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Affiliated Managers Group by 8.5% during the fourth quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager's stock valued at $122,994,000 after acquiring an additional 33,488 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Insider Transactions at Affiliated Managers Group

In related news, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the transaction, the director owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Christopher Ryan sold 3,402 shares of the business's stock in a transaction on 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 owned 1,092 shares of the company's stock, valued at approximately $333,125.52. The trade was a 75.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,902 shares of company stock valued at $7,257,719 over the last quarter. Insiders own 2.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on AMG. Weiss Ratings restated a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Sunday, June 28th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a research report on Friday. Finally, TD Cowen reaffirmed a "buy" rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Affiliated Managers Group has a consensus rating of "Moderate Buy" and a consensus price target of $370.86.

Affiliated Managers Group Trading Up 3.9%

NYSE:AMG opened at $381.16 on Tuesday. Affiliated Managers Group, Inc. has a 12-month low of $208.22 and a 12-month high of $384.11. The firm has a market cap of $10.07 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12. The company has a current ratio of 1.24, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $347.48 and a 200 day moving average price of $315.50.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.90 by $0.39. The company had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.Affiliated Managers Group's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $5.39 EPS. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 35.64 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Monday, August 10th. Affiliated Managers Group's dividend payout ratio is presently 0.14%.

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.

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