Dimensional Fund Advisors LP Buys 18,865 Shares of Affiliated Managers Group, Inc. $AMG

Dimensional Fund Advisors LP increased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 718,313 shares of the asset manager’s stock after purchasing an additional 18,865 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Affiliated Managers Group were worth $198,746,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AMG. Oak Thistle LLC grew its stake in shares of Affiliated Managers Group by 194.1% during the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock worth $2,508,000 after buying an additional 5,742 shares during the last quarter. Altfest L J & Co. Inc. acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at about $1,179,000. Fisher Asset Management LLC raised its holdings in Affiliated Managers Group by 19.7% during the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock worth $70,291,000 after purchasing an additional 40,107 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Affiliated Managers Group by 20.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock valued at $7,149,000 after buying an additional 4,258 shares during the period. Finally, Chase Investment Counsel Corp bought a new stake in shares of Affiliated Managers Group during the 4th quarter valued at about $4,962,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Annette Franqui purchased 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average price of $304.88 per share, with a total value of $228,660.00. Following the completion of the acquisition, the director owned 1,962 shares in the company, valued at $598,174.56. This trade represents a 61.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were 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 in the company, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 21,902 shares of company stock worth $7,257,719. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE AMG opened at $357.38 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The company has a market cap of $9.44 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.53 and a beta of 1.12. Affiliated Managers Group, Inc. has a 52 week low of $200.00 and a 52 week high of $382.75. The firm’s 50-day simple moving average is $339.24 and its two-hundred day simple moving average is $312.92.

Affiliated Managers Group (NYSE:AMG) last released 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 company had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. Affiliated Managers Group’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $5.37 EPS. Research analysts predict that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AMG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. TD Cowen reaffirmed a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research report on Monday, April 27th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $362.29.

About Affiliated Managers Group

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.