Arbejdsmarkedets Tillaegspension Acquires 6,142 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• Arbejdsmarkedets Tillaegspension increased its stake in Affiliated Managers Group by 7.2% in the first quarter, buying 6,142 more shares and bringing its total holding to 91,949 shares valued at about $25.4 million.
• Insider selling was notable, with CEO Jay C. Horgen and Director David Christopher Ryan both selling shares in recent transactions. Altogether, insiders sold 21,902 shares worth about $7.26 million over the last 90 days.
• AMG reported stronger-than-expected quarterly results, posting EPS of $8.23 versus the $8.10 consensus and revenue of $544.9 million, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $362.29.

Arbejdsmarkedets Tillaegspension raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,949 shares of the asset manager's stock after purchasing an additional 6,142 shares during the quarter. Arbejdsmarkedets Tillaegspension owned 0.35% of Affiliated Managers Group worth $25,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Affiliated Managers Group in the fourth quarter valued at $113,743,000. Balyasny Asset Management L.P. increased its holdings in shares of Affiliated Managers Group by 3,811.8% during the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager's stock worth $61,271,000 after buying an additional 303,423 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Affiliated Managers Group during the third quarter worth approximately $70,356,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Affiliated Managers Group by 28,466.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager's stock valued at $58,240,000 after acquiring an additional 192,715 shares during the last quarter. Finally, UBS Group AG raised its stake in shares of Affiliated Managers Group by 97.4% in the third quarter. UBS Group AG now owns 350,212 shares of the asset manager's stock valued at $83,501,000 after acquiring an additional 172,771 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Jay C. Horgen sold 17,500 shares of the business's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction 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. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 in the company, valued at $333,125.52. This trade represents a 75.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,902 shares of company stock valued at $7,257,719 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $366.80 on Monday. The company has a market capitalization of $9.69 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. Affiliated Managers Group, Inc. has a 52 week low of $199.59 and a 52 week high of $369.94. The company's 50 day moving average price is $327.18 and its two-hundred day moving average price is $308.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results 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. The firm had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $5.37 EPS. On average, analysts expect that Affiliated Managers Group, Inc. will post 35.17 earnings per share for the current fiscal 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 was Monday, May 11th. Affiliated Managers Group's dividend payout ratio is currently 0.16%.

Analyst Ratings Changes

Several brokerages have recently commented on AMG. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Barrington Research reiterated an "outperform" rating and set a $365.00 target price on shares of Affiliated Managers Group in a research report on Monday, April 27th. TD Cowen reiterated a "buy" rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Sunday, June 28th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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