Affiliated Managers Group, Inc. $AMG Shares Acquired by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC boosted its stake in Affiliated Managers Group by 46.7% in the fourth quarter, while institutional ownership remains very high at 95.3% of the stock.
• AMG reported better-than-expected quarterly earnings of $8.23 per share, topping estimates, with revenue of $544.9 million and year-over-year revenue growth of 9.7%.
• Wall Street sentiment remains mostly positive, with seven Buy ratings and one Hold; the average price target stands at $362.29, though the stock also saw some insider selling and a recent downgrade from Wall Street Zen to Hold.

Corient Private Wealth LLC increased its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 46.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,468 shares of the asset manager's stock after buying an additional 4,288 shares during the quarter. Corient Private Wealth LLC owned about 0.05% of Affiliated Managers Group worth $3,883,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in shares of Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager's stock valued at $19,047,000 after acquiring an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 purchasing an additional 6,262 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Affiliated Managers Group during the first quarter worth $1,947,000. American Century Companies Inc. grew 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 valued at $1,683,000 after buying an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised 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 buying an additional 133 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $342.25 on Friday. The stock has a fifty day moving average price of $315.79 and a 200 day moving average price of $302.67. Affiliated Managers Group, Inc. has a 1-year low of $193.99 and a 1-year high of $363.89. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The company has a market cap of $9.04 billion, a PE ratio of 13.85, a P/E/G ratio of 0.57 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping analysts' consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. During the same quarter in the prior year, the company posted $5.37 earnings per share. Affiliated Managers Group's quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 34.88 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders 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 dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, May 11th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.16%.

Wall Street Analyst Weigh In

AMG has been the topic of several research reports. The Goldman Sachs Group reissued a "buy" rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. Barrington Research reissued an "outperform" rating and set a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. Finally, TD Cowen reissued a "buy" rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group has an average rating of "Moderate Buy" and an average price target of $362.29.

Insider Activity

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the company's 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 transaction, the chief executive officer directly owned 204,706 shares in the company, valued at approximately $69,245,898.62. This represents a 7.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Christopher Ryan sold 3,402 shares of the firm's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the sale, the director directly owned 1,092 shares in the company, valued at $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is owned by corporate insiders.

About Affiliated Managers Group

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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