Oppenheimer Asset Management Inc. Takes $3.12 Million Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Oppenheimer Asset Management acquired 9,216 shares of Affiliated Managers Group in the second quarter, valued at approximately $3.12 million. Institutional investors collectively own 95.3% of AMG’s outstanding stock.
• 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 consensus “Buy” rating with an average price target of $370.86; AMG shares recently opened at $373.90, near their 52-week high of $392.92.

Oppenheimer Asset Management Inc. acquired a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,216 shares of the asset manager's stock, valued at approximately $3,119,000.

Several other large investors have also modified their holdings of the company. Boston Partners lifted its position in Affiliated Managers Group by 2.1% during the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager's stock worth $275,957,000 after acquiring an additional 24,217 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Affiliated Managers Group by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager's stock valued at $198,746,000 after purchasing an additional 18,865 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of Affiliated Managers Group by 20.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager's stock valued at $197,641,000 after purchasing an additional 115,313 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of 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 worth $158,916,000 after purchasing an additional 41,322 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Affiliated Managers Group by 8.5% in the fourth quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager's stock worth $122,994,000 after purchasing an additional 33,488 shares during the period. 95.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 17,500 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the transaction, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the purchase, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. The trade was a 61.88% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.

Affiliated Managers Group Stock Up 1.9%

Shares of AMG stock opened at $373.90 on Friday. The stock has a market cap of $9.67 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. Affiliated Managers Group, Inc. has a one year low of $215.00 and a one year high of $392.92. The stock has a fifty day moving average price of $357.57 and a 200 day moving average price of $318.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share 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 the consensus estimate of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $5.39 earnings per share. Analysts predict that Affiliated Managers Group, Inc. will post 36.25 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on AMG shares. TD Cowen reissued a "buy" rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Sunday, June 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group has a consensus rating of "Buy" and an average target price of $370.86.

Affiliated Managers Group Company 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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