210,094 Shares in Affiliated Managers Group, Inc. $AMG Purchased by Bruni J V & Co. Co.

Key Points

• Bruni J V & Co. Co. purchased 210,094 AMG shares worth approximately $71.1 million, making Affiliated Managers Group its third-largest holding and representing about 6.5% of its portfolio.
• Analysts maintain a positive outlook, with the stock carrying an average “Buy” rating and an average price target of $370.86. AMG recently exceeded quarterly earnings and revenue expectations, reporting $8.29 EPS versus the $7.90 consensus.
• AMG shares opened at $364.92, down 1.7%, while insider activity was mixed: CEO Jay Horgen sold 17,500 shares, and director Annette Franqui purchased 750 shares. The company also declared a quarterly dividend of $0.01 per share.

Bruni J V & Co. Co. purchased a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 210,094 shares of the asset manager's stock, valued at approximately $71,095,810,000. Affiliated Managers Group accounts for approximately 6.5% of Bruni J V & Co. Co.'s portfolio, making the stock its 3rd largest holding. Bruni J V & Co. Co. owned approximately 0.80% of Affiliated Managers Group at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager's stock valued at $19,047,000 after purchasing an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Affiliated Managers Group by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager's stock worth $23,815,000 after buying an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new stake in Affiliated Managers Group in the 1st quarter valued at $1,947,000. American Century Companies Inc. increased its holdings in Affiliated Managers Group by 1.2% in the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager's stock valued at $1,683,000 after buying an additional 104 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager's stock valued at $55,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMG shares. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research note 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. TD Cowen reaffirmed a "buy" rating and set a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Sunday, June 28th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $370.86.

Insider Activity at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 17,500 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Annette Franqui acquired 750 shares of the company's stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average price of $304.88 per share, with a total value of $228,660.00. Following the transaction, the director directly owned 1,962 shares in the company, valued at $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.90% of the stock is owned by corporate insiders.

Affiliated Managers Group Stock Down 1.7%

NYSE AMG opened at $364.92 on Wednesday. The stock's 50 day simple moving average is $358.69 and its 200 day simple moving average is $319.33. Affiliated Managers Group, Inc. has a one year low of $215.00 and a one year high of $392.92. The firm has a market cap of $9.44 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24.

Affiliated Managers Group (NYSE:AMG - Get Free Report) 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. The firm had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.39 EPS. As a group, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be paid 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 of this dividend is Monday, August 10th. Affiliated Managers Group's dividend payout ratio is 0.14%.

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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