Livforsakringsbolaget Skandia Omsesidigt Boosts Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Affiliated Managers Group by 144.6% in the second quarter, now owning 28,250 shares valued at approximately $5.55 million.
• Affiliated Managers Group reported earnings of $5.39 per share for the latest quarter, exceeding estimates, while also announcing a quarterly dividend of $0.01.
• Several institutional investors have significantly raised their positions in Affiliated Managers Group, leading to institutional ownership reaching 95.30% of the company.

Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 144.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,250 shares of the asset manager's stock after buying an additional 16,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned 0.10% of Affiliated Managers Group worth $5,550,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AMG. Millennium Management LLC increased its position in Affiliated Managers Group by 314.3% during the first quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager's stock worth $212,668,000 after buying an additional 960,158 shares during the period. GAMMA Investing LLC increased its position in Affiliated Managers Group by 14,091.8% during the first quarter. GAMMA Investing LLC now owns 126,023 shares of the asset manager's stock worth $21,176,000 after buying an additional 125,135 shares during the period. Nuveen LLC acquired a new position in Affiliated Managers Group during the first quarter worth approximately $16,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Affiliated Managers Group by 210.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 135,471 shares of the asset manager's stock worth $25,051,000 after buying an additional 91,819 shares during the period. Finally, LSV Asset Management increased its holdings in shares of Affiliated Managers Group by 10.4% in the first quarter. LSV Asset Management now owns 468,084 shares of the asset manager's stock valued at $78,652,000 after purchasing an additional 44,090 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

AMG opened at $234.86 on Tuesday. The business's fifty day moving average is $217.78 and its two-hundred day moving average is $188.42. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.62 and a beta of 1.19. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $238.29.

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

Affiliated Managers Group Announces Dividend

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

Insider Activity

In other news, COO Thomas M. Wojcik sold 16,000 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer directly owned 158,710 shares in the company, valued at $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of recent research reports. The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $197.00 to $218.00 in a report on Friday, June 27th. Bank of America raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their target price for the company from $236.00 to $331.00 in a report on Tuesday, September 2nd. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $214.00 to $255.00 in a report on Monday, August 4th. Finally, Barrington Research reissued an "outperform" rating and issued a $200.00 target price on shares of Affiliated Managers Group in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $242.40.

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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