Altfest L J & Co. Inc. Buys Shares of 4,089 Affiliated Managers Group, Inc. $AMG

Key Points

• Altfest L J & Co. Inc. established a new stake in Affiliated Managers Group (AMG), buying 4,089 shares worth about $1.18M, while several large institutions (notably UBS, which added 172,771 shares) also increased positions, leaving institutional ownership at roughly 95.3%.
• AMG beat EPS estimates with $9.48 versus a $8.75 consensus, though revenue of $556.6M missed the $578.5M estimate but rose 6.2% YoY; the stock trades near $285.54, has a $7.62B market cap and a consensus "Moderate Buy" target of $350.14.
• Company insiders recently sold shares (General Counsel 2,200; COO 8,000) and now own about 4.2% of stock, and AMG pays a minimal quarterly dividend of $0.01 (annualized $0.04) with an effectively negligible yield.

Altfest L J & Co. Inc. 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 disclosure with the Securities and Exchange Commission. The firm bought 4,089 shares of the asset manager's stock, valued at approximately $1,179,000.

Several other institutional investors also recently modified their holdings of the company. Boston Partners grew its holdings in shares of Affiliated Managers Group by 2.1% during the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager's stock worth $275,957,000 after purchasing an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Affiliated Managers Group by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 684,116 shares of the asset manager's stock worth $163,113,000 after purchasing an additional 7,891 shares in the last quarter. LSV Asset Management grew its holdings in shares of Affiliated Managers Group by 0.7% during the 3rd quarter. LSV Asset Management now owns 479,624 shares of the asset manager's stock worth $114,357,000 after purchasing an additional 3,400 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Affiliated Managers Group by 14.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager's stock worth $93,741,000 after purchasing an additional 50,219 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Affiliated Managers Group by 97.4% during the 3rd quarter. UBS Group AG now owns 350,212 shares of the asset manager's stock worth $83,501,000 after purchasing an additional 172,771 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Trading Down 0.3%

NYSE AMG opened at $285.54 on Friday. The stock has a 50-day simple moving average of $292.76 and a 200 day simple moving average of $278.34. The company has a market capitalization of $7.62 billion, a PE ratio of 12.37, a P/E/G ratio of 0.51 and a beta of 1.20. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group, Inc. has a 12 month low of $150.94 and a 12 month high of $334.78.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, beating analysts' consensus estimates of $8.75 by $0.73. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business had revenue of $556.60 million during the quarter, compared to the consensus estimate of $578.54 million. During the same quarter in the prior year, the company posted $6.53 earnings per share. The firm's revenue was up 6.2% on a year-over-year basis. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Monday, February 23rd. Affiliated Managers Group's payout ratio is presently 0.17%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wall Street Zen downgraded Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. The Goldman Sachs Group raised their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a "buy" rating in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on Affiliated Managers Group and gave the company a "buy" rating in a research report on Friday, February 13th. TD Cowen reiterated a "buy" rating on shares of Affiliated Managers Group in a research report on Thursday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of "Moderate Buy" and an average target price of $350.14.

Insider Activity

In other news, General Counsel Kavita Padiyar sold 2,200 shares of the company's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the transaction, the general counsel directly owned 42,672 shares of the company's stock, valued at $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas M. Wojcik sold 8,000 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $286.30, for a total value of $2,290,400.00. Following the transaction, the chief operating officer directly owned 159,465 shares of the company's stock, valued at $45,654,829.50. This represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.20% 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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