Voya Investment Management LLC Raises Holdings in Affiliated Managers Group, Inc. $AMG

Key Points

• Voya Investment Management LLC increased its stake in Affiliated Managers Group, Inc. by 52.2%, now owning approximately 0.10% of the company worth $4.82 million after acquiring additional shares.
• Wall Street analysts have mixed ratings on the stock, with an average rating of "Buy" and a recent price target range between $200.00 and $331.00.
• Affiliated Managers Group recently reported earnings, with an EPS of $5.39, surpassing expectations, but also noted a 1.4% year-over-year revenue decline.

Voya Investment Management LLC boosted its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 52.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,703 shares of the asset manager's stock after acquiring an additional 9,845 shares during the period. Voya Investment Management LLC owned 0.10% of Affiliated Managers Group worth $4,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Investment Management LLC grew its holdings in shares of Affiliated Managers Group by 0.9% during the first quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager's stock valued at $1,306,000 after buying an additional 69 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Affiliated Managers Group by 2.5% during the 4th quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock worth $536,000 after acquiring an additional 70 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after acquiring an additional 75 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Affiliated Managers Group by 6.8% in the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock valued at $197,000 after purchasing an additional 75 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Affiliated Managers Group by 11.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the asset manager's stock valued at $124,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

NYSE AMG traded up $1.71 on Monday, reaching $244.58. 211,649 shares of the company's stock traded hands, compared to its average volume of 199,245. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 0.64 and a beta of 1.19. The stock has a 50 day moving average price of $221.40 and a 200-day moving average price of $191.15. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $245.96.

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

Affiliated Managers Group Announces Dividend

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

Analyst Upgrades and Downgrades

AMG has been the subject of a number of recent analyst reports. Bank of America raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $236.00 to $331.00 in a research report on Tuesday, September 2nd. Zacks Research upgraded Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. Finally, TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price objective for the company from $214.00 to $255.00 in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $242.40.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the business's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the transaction, the chief operating officer directly owned 158,710 shares of the company's stock, valued at $36,666,771.30. The trade was a 9.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.20% of the company's stock.

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.