14,706 Shares in Affiliated Managers Group, Inc. $AMG Bought by Strategic Global Advisors LLC

Key Points

• Strategic Global Advisors LLC initiated a position in Affiliated Managers Group by purchasing 14,706 shares valued at approximately $4.98 million. Institutional investors and hedge funds collectively own 95.30% of AMG.
• AMG reported quarterly earnings of $8.29 per share, exceeding estimates of $7.90, while revenue reached $640.7 million versus expectations of $590.94 million.
• Analysts maintain a broadly positive outlook, with an average “Buy” rating and a $370.86 price target; AMG recently traded at $371.40, near its 52-week high of $392.92.

Strategic Global Advisors LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 14,706 shares of the asset manager's stock, valued at approximately $4,977,000. Strategic Global Advisors LLC owned about 0.06% of Affiliated Managers Group 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. Wallace Capital Management Inc. acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth about $19,740,000. Caisse de depot et placement du Quebec bought a new position in Affiliated Managers Group in the 2nd quarter worth approximately $61,603,000. Man Group plc acquired a new position in shares of Affiliated Managers Group during the second quarter worth approximately $8,136,000. Jupiter Topco LLC bought a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $3,699,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Affiliated Managers Group in the second quarter worth $1,734,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Annette Franqui purchased 750 shares of the stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of the company'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 completion of the sale, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company's stock.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $371.40 on Thursday. The company has a 50-day moving average of $359.89 and a 200-day moving average of $321.44. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.50 and a beta of 1.11. Affiliated Managers Group, Inc. has a 52 week low of $223.44 and a 52 week high of $392.92. 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 (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $590.94 million. During the same quarter in the previous year, the firm posted $5.39 earnings per share. The firm's revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, August 10th. Affiliated Managers Group's dividend payout ratio is currently 0.14%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. TD Cowen reissued a "buy" rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, Barrington Research set a $425.00 price objective on Affiliated Managers Group in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Affiliated Managers Group has an average rating of "Buy" and an average price target of $370.86.

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.

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