Oliver Luxxe Assets LLC Increases Stock Position in Affiliated Managers Group, Inc. $AMG

Oliver Luxxe Assets LLC grew its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 64.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,407 shares of the asset manager’s stock after purchasing an additional 7,197 shares during the period. Oliver Luxxe Assets LLC owned approximately 0.07% of Affiliated Managers Group worth $5,306,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Boston Partners raised its position in 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 acquiring an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Affiliated Managers Group by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 684,116 shares of the asset manager’s stock worth $163,113,000 after acquiring an additional 7,891 shares during the last quarter. LSV Asset Management raised its position in shares of Affiliated Managers Group by 0.7% during the 3rd quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock worth $114,357,000 after purchasing an additional 3,400 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Affiliated Managers Group by 14.6% in the third quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock valued at $93,741,000 after acquiring an additional 50,219 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at $71,779,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction on Friday, March 6th. The shares were sold at an average price of $286.30, for a total value of $2,290,400.00. Following the transaction, the chief operating officer owned 159,465 shares in the company, valued at $45,654,829.50. This trade represents a 4.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $278.24, for a total value of $612,128.00. Following the completion of the transaction, the general counsel owned 42,672 shares in the company, valued at $11,873,057.28. The trade was a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.20% of the company’s stock.

Affiliated Managers Group Trading Down 0.1%

Shares of AMG opened at $278.47 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $7.43 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.47 and a beta of 1.18. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $334.78. The business’s 50-day moving average price is $305.58 and its 200 day moving average price is $274.27.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The business had revenue of $556.60 million during the quarter, compared to analyst estimates of $578.54 million. During the same period in the prior year, the firm earned $6.53 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. Analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Monday, February 23rd. Affiliated Managers Group’s dividend payout ratio is presently 0.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. The Goldman Sachs Group upped their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $350.14.

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.