7,485 Shares in Affiliated Managers Group, Inc. $AMG Purchased by Commerce Bank

Key Points

• Commerce Bank purchased 7,485 shares of Affiliated Managers Group during the second quarter, valued at approximately $2.53 million. Institutional investors and hedge funds collectively own 95.3% of AMG’s outstanding stock.
• AMG reported quarterly earnings of $8.29 per share, exceeding analyst expectations of $7.90, while revenue reached $640.7 million versus the $590.94 million consensus estimate.
• Analysts maintain a positive outlook, with the stock carrying a consensus “Buy” rating and an average price target of $370.86; AMG recently traded at $359.08.

Commerce Bank bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,485 shares of the asset manager's stock, valued at approximately $2,533,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMG. Northwestern Mutual Wealth Management Co. acquired a new stake in Affiliated Managers Group during the 2nd quarter valued at approximately $205,000. Quantbot Technologies LP purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at $850,000. Evolve Private Wealth LLC acquired a new stake in shares of Affiliated Managers Group in the second quarter worth $1,495,000. Farringdon Capital Ltd. acquired a new stake in shares of Affiliated Managers Group in the second quarter worth $212,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Affiliated Managers Group during the second quarter worth $976,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $359.08 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.48 and a beta of 1.11. The firm's 50 day simple moving average is $359.42 and its 200-day simple moving average is $320.56. Affiliated Managers Group, Inc. has a 12 month low of $223.44 and a 12 month high of $392.92.

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 (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 firm had revenue of $640.70 million during the quarter, compared to analysts' expectations of $590.94 million. During the same period in the previous year, the business posted $5.39 EPS. The business's revenue was up .0% compared to the same quarter last year. Analysts expect that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, Director Annette Franqui bought 750 shares of the company's stock in a transaction dated 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 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

AMG has been the subject of a number of research reports. Weiss Ratings restated a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. TD Cowen reiterated a "buy" rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a report on Friday, July 31st. Finally, Wall Street Zen upgraded Affiliated Managers Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price 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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