Affiliated Managers Group, Inc. $AMG Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC boosted its stake in Affiliated Managers Group by 643.9% in the fourth quarter, ending with 10,935 shares valued at about $3.16 million.
• Several other institutional investors also made big moves in AMG, and 95.3% of the stock is now owned by institutions and hedge funds.
• AMG reported better-than-expected Q1 earnings of $8.23 per share on revenue of $544.9 million, while analysts remain broadly positive with a Moderate Buy consensus and a target price of about $362.29.

Hsbc Holdings PLC raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 643.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,935 shares of the asset manager's stock after acquiring an additional 9,465 shares during the period. Hsbc Holdings PLC's holdings in Affiliated Managers Group were worth $3,158,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at approximately $113,743,000. Balyasny Asset Management L.P. grew its position in Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager's stock valued at $61,271,000 after buying an additional 303,423 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Affiliated Managers Group in the 3rd quarter valued at $70,356,000. Northwestern Mutual Wealth Management Co. increased its stake in Affiliated Managers Group by 28,466.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager's stock valued at $58,240,000 after buying an additional 192,715 shares during the period. Finally, UBS Group AG increased its stake in Affiliated Managers Group by 97.4% in the 3rd quarter. UBS Group AG now owns 350,212 shares of the asset manager's stock valued at $83,501,000 after buying an additional 172,771 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total value of $1,037,814.12. Following the transaction, the director owned 1,092 shares in the company, valued at $333,125.52. This trade represents a 75.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Annette Franqui acquired 750 shares of the stock in a transaction dated Monday, June 1st. The shares were bought at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the purchase, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 21,902 shares of company stock valued at $7,257,719 over the last 90 days. 2.90% of the stock is currently owned by insiders.

Affiliated Managers Group Stock Up 0.1%

AMG opened at $342.25 on Monday. Affiliated Managers Group, Inc. has a 12 month low of $193.99 and a 12 month high of $363.89. The business has a 50-day moving average of $315.79 and a two-hundred day moving average of $302.90. 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 stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 0.58 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 the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. During the same period in the prior year, the firm posted $5.37 EPS. The company's revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Affiliated Managers Group, Inc. will post 34.88 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Analyst Ratings Changes

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

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.

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.