Brant Point Investment Management LLC Makes New Investment in Affiliated Managers Group, Inc. $AMG

Key Points

• Brant Point Investment Management opened a new position in Affiliated Managers Group, buying 25,000 shares valued at about $7.2 million in the fourth quarter. The stake makes AMG its 9th-largest holding and represents about 0.9% of its portfolio.
• Affiliated Managers Group reported better-than-expected first-quarter earnings, posting $8.23 EPS versus the $8.10 estimate, while revenue rose 9.7% year over year to $544.9 million. Analysts now expect the company to earn 34.71 EPS for the current fiscal year.
• The stock has been strong recently, trading up 3.0% to around $354.55 and near its 52-week high, while analysts remain broadly positive with a consensus Moderate Buy rating and average target price of $362.29.

Brant Point Investment Management LLC acquired 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 13F filing with the Securities and Exchange Commission. The firm acquired 25,000 shares of the asset manager's stock, valued at approximately $7,207,000. Affiliated Managers Group accounts for approximately 0.9% of Brant Point Investment Management LLC's portfolio, making the stock its 9th largest position. Brant Point Investment Management LLC owned 0.09% of Affiliated Managers Group at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AMG. Leonteq Securities AG bought a new position in Affiliated Managers Group during the 4th quarter worth $30,000. Hantz Financial Services Inc. increased its stake in Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock worth $34,000 after acquiring an additional 93 shares during the period. EverSource Wealth Advisors LLC increased its stake in Affiliated Managers Group by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager's stock worth $55,000 after acquiring an additional 133 shares during the period. Jones Financial Companies Lllp increased its stake in Affiliated Managers Group by 51.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager's stock worth $59,000 after acquiring an additional 84 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Affiliated Managers Group by 676.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager's stock worth $67,000 after acquiring an additional 203 shares during the period. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Trading Up 3.0%

Shares of AMG stock opened at $354.55 on Friday. The stock's fifty day moving average price is $302.17 and its two-hundred day moving average price is $296.94. The company has a market cap of $9.36 billion, a PE ratio of 14.34, a P/E/G ratio of 0.60 and a beta of 1.13. Affiliated Managers Group, Inc. has a fifty-two week low of $179.79 and a fifty-two week high of $355.55. 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 issued its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating analysts' consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. During the same quarter last year, the business posted $5.37 EPS. The company's revenue was up 9.7% compared to the same quarter last year. Equities analysts predict that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.16%.

Insider Activity at Affiliated Managers Group

In related news, Director David Christopher Ryan sold 3,402 shares of the firm'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 owned 1,092 shares of the company's stock, valued at $333,125.52. This trade represents a 75.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Annette Franqui acquired 750 shares of the business's stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the acquisition, the director owned 1,962 shares in the company, valued at $598,174.56. This represents a 61.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barrington Research reaffirmed an "outperform" rating and issued a $365.00 target price on shares of Affiliated Managers Group in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen reaffirmed a "buy" rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Wall Street Zen downgraded Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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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