Aerodigm Wealth LLC Makes New Investment in Affiliated Managers Group, Inc. $AMG

Key Points

• Aerodigm Wealth LLC initiated a new position in Affiliated Managers Group, buying 88,749 shares worth about $25.6 million in the fourth quarter, making AMG its second-largest holding.
• Affiliated Managers Group reported strong quarterly results, with EPS of $8.23 beating estimates and revenue of $544.9 million slightly topping forecasts; revenue also rose 9.7% year over year.
• The stock has drawn bullish analyst coverage, with seven Buy ratings and an average price target of $362.29, while insiders showed mixed activity through both a director sale and a director purchase.

Aerodigm Wealth LLC bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 88,749 shares of the asset manager's stock, valued at approximately $25,585,000. Affiliated Managers Group comprises about 9.0% of Aerodigm Wealth LLC's holdings, making the stock its 2nd largest position. Aerodigm Wealth LLC owned approximately 0.32% of Affiliated Managers Group as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of AMG. Goldman Sachs Group Inc. boosted its holdings in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager's stock valued at $23,815,000 after buying an additional 6,262 shares during the period. Jane Street Group LLC acquired a new position in shares of Affiliated Managers Group in the 1st quarter valued at about $1,947,000. American Century Companies Inc. boosted its stake in shares of Affiliated Managers Group by 1.2% in the second quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager's stock worth $1,683,000 after buying an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Affiliated Managers Group by 89.9% in the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager's stock worth $55,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $296.98 on Tuesday. The firm has a market cap of $7.84 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.51 and a beta of 1.14. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. Affiliated Managers Group, Inc. has a 52 week low of $172.54 and a 52 week high of $334.78. The business's fifty day simple moving average is $286.50 and its 200-day simple moving average is $288.61.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.13. The firm had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. Affiliated Managers Group's revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $5.37 EPS. Equities analysts forecast that Affiliated Managers Group, Inc. will post 34.27 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be given 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 is Monday, May 11th. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.16%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Barrington Research reissued an "outperform" rating and set a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group restated a "buy" rating and set a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $362.29.

Insiders Place Their Bets

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the sale, the director directly owned 4,369 shares of the company's stock, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director G. Staley Cates purchased 1,500 shares of the business's stock in a transaction on Wednesday, May 6th. The shares were bought at an average price of $305.83 per share, for a total transaction of $458,745.00. Following the acquisition, the director owned 6,405 shares in the company, valued at $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders sold 14,602 shares of company stock valued at $4,240,522. Insiders own 2.90% of the company's stock.

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.

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