Allianz Asset Management GmbH Has $122.99 Million Stake in Affiliated Managers Group, Inc. $AMG

Key Points

• Allianz Asset Management GmbH increased its stake in Affiliated Managers Group by 8.5% in the fourth quarter, bringing its holdings to 426,649 shares worth about $123 million.
• Wall Street sentiment remains positive, with seven analysts rating AMG a Buy and one Hold; the consensus price target is $362.29, while several firms have recently reiterated bullish targets as high as $454.
• AMG reported solid quarterly results, posting EPS of $8.23, slightly above estimates, on revenue of $544.9 million, and it also paid a quarterly dividend of $0.01 per share.

Allianz Asset Management GmbH raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 426,649 shares of the asset manager's stock after buying an additional 33,488 shares during the quarter. Allianz Asset Management GmbH owned 1.52% of Affiliated Managers Group worth $122,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Boston Partners lifted its stake in Affiliated Managers Group by 2.1% in the third 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 grew its stake in Affiliated Managers Group by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 684,116 shares of the asset manager's stock valued at $163,113,000 after purchasing an additional 7,891 shares in the last quarter. Geode Capital Management LLC grew its stake in Affiliated Managers Group by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager's stock valued at $158,916,000 after purchasing an additional 41,322 shares in the last quarter. LSV Asset Management lifted its position in shares of Affiliated Managers Group by 0.7% in the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager's stock valued at $114,357,000 after buying an additional 3,400 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at approximately $113,743,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, Director Annette Franqui bought 750 shares of the firm's stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the transaction, the director directly owned 1,962 shares of the company's stock, valued at $598,174.56. This represents a 61.88% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the sale, the director directly owned 4,369 shares of the company's stock, valued at $1,311,486.42. This represents a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,902 shares of company stock valued at $7,257,719. Company insiders own 2.90% of the company's stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $335.33 on Thursday. The company has a market cap of $8.86 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13. Affiliated Managers Group, Inc. has a 52 week low of $179.79 and a 52 week high of $348.15. The business has a 50 day moving average price of $299.19 and a 200-day moving average price of $295.91. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The company's quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.37 earnings per share. Equities analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio is currently 0.16%.

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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