AlphaQuest LLC Raises Stock Position in Affiliated Managers Group, Inc. $AMG

Key Points

• AlphaQuest LLC boosted its stake in Affiliated Managers Group by 1,184.3% in Q4, ending with 8,258 shares valued at about $2.38 million.
• Affiliated Managers Group reported better-than-expected Q1 earnings, with EPS of $8.23 versus the $8.10 estimate, while revenue rose 9.7% year over year to $544.9 million.
• Analysts remain upbeat on the stock, with several buy ratings and a consensus price target of $362.29; shares were trading around $308.67.

AlphaQuest LLC increased its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1,184.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,258 shares of the asset manager's stock after purchasing an additional 7,615 shares during the period. AlphaQuest LLC's holdings in Affiliated Managers Group were worth $2,381,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Leonteq Securities AG acquired a new stake in Affiliated Managers Group in the 4th quarter worth approximately $30,000. Root Financial Partners LLC acquired a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $33,000. Hantz Financial Services Inc. boosted its stake in Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock worth $34,000 after purchasing an additional 93 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager's stock worth $55,000 after purchasing an additional 133 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Affiliated Managers Group by 51.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager's stock worth $59,000 after purchasing an additional 84 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

AMG opened at $308.67 on Wednesday. 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 firm has a fifty day moving average price of $289.25 and a 200 day moving average price of $290.96. Affiliated Managers Group, Inc. has a 1 year low of $172.54 and a 1 year high of $334.78. The stock has a market cap of $8.15 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.52 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results 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. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm had revenue of $544.90 million during the quarter, compared to analysts' expectations of $544.01 million. During the same period in the previous year, the business posted $5.37 EPS. The business's revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.31 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Insider Activity at Affiliated Managers Group

In related news, Director G. Staley Cates bought 1,500 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the purchase, the director directly owned 6,405 shares of the company's stock, valued at approximately $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Christopher Ryan sold 3,402 shares of the company's stock in a transaction on 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 of the company's stock, valued at $333,125.52. The trade was a 75.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,602 shares of company stock valued at $4,240,522 in the last three months. Company insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. The Goldman Sachs Group restated a "buy" rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen restated a "buy" rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 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 analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Affiliated Managers Group presently has a consensus 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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