Affiliated Managers Group, Inc. $AMG Holdings Decreased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC cut its stake in Affiliated Managers Group by 44.5% in the fourth quarter, though institutional ownership remains high at 95.3%.
• AMG reported better-than-expected quarterly results, with EPS of $8.23 topping estimates and revenue rising 9.7% year over year to $544.9 million.
• Analysts remain broadly positive, with seven Buy ratings and an average Moderate Buy consensus price target of $362.29; meanwhile, insiders have recently bought shares, including directors Annette Franqui and G. Staley Cates.

Intech Investment Management LLC trimmed its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 44.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,727 shares of the asset manager's stock after selling 4,587 shares during the quarter. Intech Investment Management LLC's holdings in Affiliated Managers Group were worth $1,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Leonteq Securities AG bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $30,000. Hantz Financial Services Inc. increased its holdings in shares of Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock valued at $34,000 after acquiring an additional 93 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 acquiring an additional 133 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Affiliated Managers Group by 51.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager's stock valued at $59,000 after acquiring an additional 84 shares during the last quarter. Finally, Highlander Partners L.P. bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $68,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

Shares of AMG opened at $334.50 on Friday. The company has a market cap of $8.83 billion, a P/E ratio of 13.53, a PEG ratio of 0.53 and a beta of 1.13. The stock has a fifty day moving average price of $294.06 and a 200 day moving average price of $293.49. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. Affiliated Managers Group, Inc. has a 12 month low of $179.04 and a 12 month high of $336.76.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts' consensus estimates of $8.10 by $0.13. The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm's revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $5.37 EPS. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group's dividend payout ratio is presently 0.16%.

Insider Activity

In other Affiliated Managers Group news, Director Annette Franqui purchased 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The stock was bought at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the transaction, the director owned 1,962 shares of the company's stock, valued at $598,174.56. The trade was a 61.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director G. Staley Cates purchased 1,500 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of $305.83 per share, with a total value of $458,745.00. Following the transaction, the director directly owned 6,405 shares in the company, valued at $1,958,841.15. This trade represents a 30.58% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 6,602 shares of company stock worth $1,950,122 over the last 90 days. Insiders own 2.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMG. Wall Street Zen downgraded Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. TD Cowen reiterated a "buy" rating and issued a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. The Goldman Sachs Group reiterated a "buy" rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Barrington Research restated an "outperform" rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Affiliated Managers Group currently has an average rating of "Moderate Buy" and a consensus price target of $362.29.

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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