9,216 Shares in Affiliated Managers Group, Inc. $AMG Bought by Oppenheimer Asset Management Inc.

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners boosted its position in Affiliated Managers Group by 2.1% during the third quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after purchasing an additional 24,217 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock worth $198,746,000 after purchasing an additional 18,865 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Affiliated Managers Group by 20.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock worth $197,641,000 after purchasing an additional 115,313 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Affiliated Managers Group by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock valued at $158,916,000 after buying an additional 41,322 shares during the last quarter. Finally, Allianz Asset Management GmbH grew 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 valued at $122,994,000 after buying an additional 33,488 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the topic of several recent analyst reports. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a research report on Friday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, TD Cowen restated a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Buy” and an average target price of $370.86.

Insider Activity

In other news, CEO Jay C. Horgen sold 17,500 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. This 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 can be accessed through the SEC website. Also, Director Annette Franqui bought 750 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $304.88 per share, with a total value of $228,660.00. Following the acquisition, the director directly owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. The trade was a 61.88% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $373.90 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. The company has a market cap of $9.67 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. The company has a 50 day moving average of $357.57 and a 200-day moving average of $318.48. Affiliated Managers Group, Inc. has a 1-year low of $215.00 and a 1-year high of $392.92.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 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 business had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. During the same period in the previous year, the business earned $5.39 earnings per share. The company’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 36.25 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Monday, August 10th. Affiliated Managers Group’s dividend payout ratio is currently 0.14%.

Affiliated Managers Group 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.