Arbejdsmarkedets Tillaegspension Makes New Investment in Affiliated Managers Group, Inc. $AMG

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in Affiliated Managers Group, buying 85,807 shares worth about $24.7 million in the fourth quarter, making AMG its 13th-largest holding.
• AMG reported strong quarterly results, posting $8.23 EPS versus the $8.10 estimate and revenue of $544.9 million, while revenue rose 9.7% year over year.
• Analysts remain upbeat on the stock, with seven Buy ratings and one Hold rating, and a consensus price target of $362.29; shares recently opened at $302.70.

Arbejdsmarkedets Tillaegspension bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 85,807 shares of the asset manager's stock, valued at approximately $24,736,000. Affiliated Managers Group comprises about 0.6% of Arbejdsmarkedets Tillaegspension's holdings, making the stock its 13th biggest position. Arbejdsmarkedets Tillaegspension owned approximately 0.31% of Affiliated Managers Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Affiliated Managers Group during the third quarter worth $33,000. Hantz Financial Services Inc. grew its stake in shares of Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock worth $34,000 after buying an additional 93 shares during the last quarter. Millstone Evans Group LLC grew its stake in shares of Affiliated Managers Group by 41.9% during the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager's stock worth $42,000 after buying an additional 52 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of Affiliated Managers Group by 1,237.5% during the third quarter. Global Retirement Partners LLC now owns 214 shares of the asset manager's stock worth $51,000 after buying an additional 198 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake 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 worth $55,000 after buying an additional 133 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $302.70 on Friday. The firm's 50-day moving average price is $286.72 and its 200-day moving average price is $287.84. Affiliated Managers Group, Inc. has a 1-year low of $172.54 and a 1-year high of $334.78. The firm has a market capitalization of $7.99 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.52 and a beta of 1.14. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73.

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, 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 for the quarter, compared to analyst estimates of $544.01 million. During the same quarter in the prior year, the business earned $5.37 earnings per share. The business's quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.23 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio is currently 0.16%.

Insider Activity

In related news, Director G. Staley Cates acquired 1,500 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the acquisition, the director 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Kavita Padiyar sold 2,200 shares of the company's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the transaction, the general counsel owned 42,672 shares in the company, valued at $11,873,057.28. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 14,602 shares of company stock valued at $4,240,522. Corporate insiders own 2.90% of the company's stock.

Analyst Ratings Changes

AMG has been the topic of several analyst reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. The Goldman Sachs Group reissued a "buy" rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research reissued an "outperform" rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. 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. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. 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, the company has an average rating of "Moderate Buy" and a consensus target price of $362.29.

Affiliated Managers Group Company 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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