Alyeska Investment Group L.P. Invests $1.15 Million in Affiliated Managers Group, Inc. $AMG

Key Points

• Alyeska Investment Group acquired 3,386 shares of Affiliated Managers Group worth approximately $1.15 million, while institutional investors collectively own 95.3% of AMG.
• AMG reported quarterly EPS of $8.29, beating estimates of $7.90, and revenue of $640.7 million versus expectations of $590.9 million. Analysts maintain an overall “Buy” rating with an average price target of $370.86.
• CEO Jay Horgen sold 17,500 shares for approximately $5.92 million. AMG shares opened at $360.52, down 2.1%, and the company paid a quarterly dividend of $0.01 per share.

Alyeska Investment Group L.P. acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,386 shares of the asset manager's stock, valued at approximately $1,146,000.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in Affiliated Managers Group by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager's stock valued at $19,047,000 after purchasing an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Affiliated Managers Group by 4.6% in 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 valued at $23,815,000 after purchasing an additional 6,262 shares during the last quarter. Jane Street Group LLC bought a new position in Affiliated Managers Group in the first quarter worth about $1,947,000. American Century Companies Inc. raised its holdings in 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 worth $1,683,000 after purchasing an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Affiliated Managers Group by 89.9% during the second 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 last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jay C. Horgen sold 17,500 shares of the company's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the sale, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMG shares. TD Cowen reaffirmed a "buy" rating and issued a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Zacks Research upgraded Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Weiss Ratings restated a "buy (b)" rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research report on Friday, July 31st. Finally, Wall Street Zen cut Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Affiliated Managers Group has an average rating of "Buy" and an average price target of $370.86.

Affiliated Managers Group Trading Down 2.1%

Shares of NYSE:AMG opened at $360.52 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a 52-week low of $224.59 and a 52-week high of $392.92. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.50 and a beta of 1.10. The business has a 50-day moving average price of $361.00 and a 200-day moving average price of $323.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating analysts' consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The firm had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. During the same quarter in the prior year, the firm earned $5.39 earnings per share. Affiliated Managers Group's revenue for the quarter was up .0% on a year-over-year basis. Equities analysts predict that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, August 10th. Affiliated Managers Group's payout ratio is 0.14%.

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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