The Manufacturers Life Insurance Company Acquires New Stake in Affiliated Managers Group, Inc. $AMG

The Manufacturers Life Insurance Company acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,406 shares of the asset manager’s stock, valued at approximately $6,229,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in Affiliated Managers Group during the second quarter worth approximately $622,000. Fisher Asset Management LLC raised its holdings in Affiliated Managers Group by 19.7% in the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock valued at $70,291,000 after acquiring an additional 40,107 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Affiliated Managers Group by 5.2% during the 1st quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock worth $29,787,000 after purchasing an additional 5,357 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Affiliated Managers Group by 20.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock worth $7,149,000 after purchasing an additional 4,258 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Affiliated Managers Group during the second quarter worth $13,432,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AMG. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $370.86.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. The trade was a 7.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is owned by company insiders.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $371.22 on Monday. The stock’s 50 day moving average price is $360.58 and its 200 day moving average price is $322.37. The firm has a market capitalization of $9.60 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. Affiliated Managers Group, Inc. has a one year low of $223.44 and a one year high of $392.92.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. During the same quarter last year, the company earned $5.39 earnings per share. Affiliated Managers Group’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts expect that Affiliated Managers Group, Inc. will post 36.69 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th 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, August 10th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.14%.

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.