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

Key Points

• Fisher Asset Management boosted its stake in Affiliated Managers Group by 19.7% in Q4, buying 40,107 shares and bringing its total holding to 243,830 shares worth about $70.3 million.
• Insider trading was mixed: Director Felix V. Matos sold 1,000 shares, while Director G. Staley Cates bought 1,500 shares. Over the last 90 days, insiders have sold 14,602 shares net.
• AMG reported stronger-than-expected quarterly results, with EPS of $8.23 topping estimates and revenue rising 9.7% year over year. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $362.29.

Fisher Asset Management LLC increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,830 shares of the asset manager's stock after buying an additional 40,107 shares during the period. Fisher Asset Management LLC owned 0.87% of Affiliated Managers Group worth $70,291,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Genus Capital Management Inc. increased its stake in Affiliated Managers Group by 19.2% during the 4th quarter. Genus Capital Management Inc. now owns 26,985 shares of the asset manager's stock worth $7,779,000 after acquiring an additional 4,350 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of 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 in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Affiliated Managers Group by 2.0% in the fourth 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 period. Guinness Asset Management LTD increased its position in shares of Affiliated Managers Group by 23.6% in the fourth quarter. Guinness Asset Management LTD now owns 4,242 shares of the asset manager's stock worth $1,239,000 after purchasing an additional 810 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Affiliated Managers Group by 387.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,043 shares of the asset manager's stock valued at $301,000 after purchasing an additional 829 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insider Activity at Affiliated Managers Group

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the 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 transaction, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G. Staley Cates acquired 1,500 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the acquisition, the director owned 6,405 shares in the company, valued at $1,958,841.15. This represents a 30.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 14,602 shares of company stock valued at $4,240,522. 2.90% of the stock is owned by company insiders.

Affiliated Managers Group Stock Up 0.0%

AMG stock opened at $301.99 on Tuesday. The stock has a market capitalization of $7.98 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 0.52 and a beta of 1.14. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. Affiliated Managers Group, Inc. has a 12 month low of $172.54 and a 12 month high of $334.78. The firm has a 50-day moving average price of $288.51 and a 200-day moving average price of $290.59.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.13. The company had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm's revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.37 EPS. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.31 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.01 per share. 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 dividend payout ratio is 0.16%.

Analysts Set New Price Targets

AMG has been the topic of a number of analyst reports. Barrington Research reiterated an "outperform" rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. 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. 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. Finally, Wall Street Zen downgraded Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.

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