Bayforest Capital Ltd Purchases 4,067 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• Bayforest Capital Ltd significantly increased its stake in Affiliated Managers Group, Inc. by 632.5% in the first quarter, bringing its total holdings to $791,000.
• Analysts have raised their ratings for Affiliated Managers Group, with Zacks Research upgrading it from a "hold" to a "strong-buy", contributing to a consensus rating of "Buy" and an average price target of $242.40.
• The company recently reported quarterly earnings of $5.39 EPS, exceeding estimates, despite a 1.4% year-over-year decline in revenue.

Bayforest Capital Ltd increased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 632.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,710 shares of the asset manager's stock after purchasing an additional 4,067 shares during the period. Bayforest Capital Ltd's holdings in Affiliated Managers Group were worth $791,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in Affiliated Managers Group by 18.4% during the first quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock worth $9,028,000 after purchasing an additional 8,361 shares during the period. Private Trust Co. NA grew its holdings in Affiliated Managers Group by 38.1% during the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after purchasing an additional 83 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Affiliated Managers Group by 785.2% during the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock worth $315,000 after acquiring an additional 1,649 shares during the period. XTX Topco Ltd boosted its holdings in shares of Affiliated Managers Group by 189.9% during the first quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock worth $2,469,000 after acquiring an additional 9,626 shares during the period. Finally, Goodman Financial Corp boosted its holdings in shares of Affiliated Managers Group by 1.6% during the first quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager's stock worth $13,578,000 after acquiring an additional 1,301 shares during the period. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Price Performance

AMG traded down $0.14 during trading on Friday, hitting $235.82. 206,428 shares of the stock traded hands, compared to its average volume of 222,414. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $238.29. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 0.61 and a beta of 1.19. The business has a 50 day moving average price of $216.41 and a 200 day moving average price of $187.21.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company had revenue of $493.20 million for the quarter, compared to analysts' expectations of $506.46 million. During the same period in the previous year, the business posted $4.67 earnings per share. The business's quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.29%.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares of the company's stock, valued at $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Finally, Bank of America upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $236.00 to $331.00 in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group has a consensus rating of "Buy" and an average target price of $242.40.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.