Public Employees Retirement System of Ohio Makes New $8.96 Million Investment in Affiliated Managers Group, Inc. $AMG

Key Points

• Public Employees Retirement System of Ohio purchased 26,489 shares of Affiliated Managers Group, valued at approximately $8.96 million, giving it a 0.10% stake. Institutional investors collectively own 95.30% of AMG.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $370.86; targets from individual firms range as high as $454.
• AMG exceeded quarterly expectations, reporting $8.29 in earnings per share versus the $7.90 consensus and revenue of $640.70 million versus estimates of $590.94 million. The stock recently opened at $368.63, near its 12-month high of $392.92.

Public Employees Retirement System of Ohio purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,489 shares of the asset manager's stock, valued at approximately $8,964,000. Public Employees Retirement System of Ohio owned approximately 0.10% of Affiliated Managers Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in AMG. BlackRock Inc. purchased a new position in Affiliated Managers Group during the 2nd quarter valued at about $938,294,000. Boston Partners lifted its holdings in shares of Affiliated Managers Group by 2.1% in the third quarter. Boston Partners now owns 1,157,344 shares of the asset manager's stock worth $275,957,000 after buying an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP boosted 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 acquiring an additional 18,865 shares during the period. Fuller & Thaler Asset Management Inc. boosted 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 acquiring an additional 115,313 shares during the period. Finally, Geode Capital Management LLC grew its stake in Affiliated Managers Group by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager's stock valued at $158,916,000 after acquiring an additional 41,322 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AMG. Zacks Research raised shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, TD Cowen reiterated a "buy" rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $370.86.

Insider Buying and Selling at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of the business's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, the chief executive officer directly owned 204,706 shares in the company, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company's stock.

Affiliated Managers Group Price Performance

AMG opened at $368.63 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $9.53 billion, a P/E ratio of 12.77, a PEG ratio of 0.50 and a beta of 1.11. The stock has a 50-day moving average price of $360.80 and a 200-day moving average price of $322.83. Affiliated Managers Group, Inc. has a 12-month low of $223.44 and a 12-month high of $392.92.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced 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 analysts' expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.Affiliated Managers Group's revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $5.39 EPS. Equities analysts predict that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.14%.

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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