Principal Financial Group Inc. Purchases 2,283 Shares of Affiliated Managers Group, Inc. $AMG

Principal Financial Group Inc. boosted its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 3.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,786 shares of the asset manager’s stock after buying an additional 2,283 shares during the period. Principal Financial Group Inc. owned approximately 0.24% of Affiliated Managers Group worth $17,373,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors lifted its stake in shares of Affiliated Managers Group by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after purchasing an additional 34 shares during the period. AlphaCore Capital LLC grew its stake in Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after purchasing an additional 36 shares during the period. Allworth Financial LP increased its holdings in Affiliated Managers Group by 10.3% in the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after purchasing an additional 45 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Affiliated Managers Group by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after purchasing an additional 46 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Affiliated Managers Group by 1.4% in the fourth quarter. Quadrant Capital Group LLC now owns 3,220 shares of the asset manager’s stock valued at $928,000 after buying an additional 46 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Affiliated Managers Group

In other news, Director G. Staley Cates bought 1,500 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $305.83 per share, with a total value of $458,745.00. Following the completion of the transaction, the director directly owned 6,405 shares of the company’s stock, valued at $1,958,841.15. This represents a 30.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the business’s stock in a transaction on 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 owned 4,369 shares in the company, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,902 shares of company stock valued at $7,257,719 in the last quarter. Insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG stock opened at $346.80 on Thursday. 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 firm has a market cap of $9.16 billion, a PE ratio of 14.03, a P/E/G ratio of 0.52 and a beta of 1.12. The business has a 50 day moving average of $337.09 and a 200-day moving average of $312.20. Affiliated Managers Group, Inc. has a 12-month low of $200.00 and a 12-month high of $382.75.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. During the same period last year, the company posted $5.37 earnings per share. Affiliated Managers Group’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid a $0.01 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.16%.

Wall Street Analysts Forecast Growth

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

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.