Candriam S.C.A. bought a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,228 shares of the asset manager's stock, valued at approximately $2,553,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager's stock worth $19,047,000 after buying an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Affiliated Managers Group by 4.6% in the 1st 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 acquiring an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Affiliated Managers Group during the first quarter valued at $1,947,000. American Century Companies Inc. boosted its holdings in shares of Affiliated Managers Group by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager's stock valued at $1,683,000 after acquiring an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Affiliated Managers Group by 89.9% in the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager's stock worth $55,000 after purchasing an additional 133 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.
Affiliated Managers Group Trading Up 1.8%
NYSE:AMG opened at $366.38 on Wednesday. Affiliated Managers Group, Inc. has a 52 week low of $199.59 and a 52 week high of $369.94. The firm has a 50 day moving average of $329.73 and a 200 day moving average of $309.14. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $9.68 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.58 and a beta of 1.12.
Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $544.90 million during the quarter, compared to analysts' expectations of $544.01 million. During the same period last year, the business earned $5.37 EPS. Affiliated Managers Group's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 35.37 earnings per share for the current fiscal year.
Affiliated Managers Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.16%.
Insider Activity
In other Affiliated Managers Group news, Director Annette Franqui acquired 750 shares of the business's stock in a transaction on Monday, June 1st. The stock was bought at an average price 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 approximately $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 204,706 shares of the company's stock, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Sunday, June 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. 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. Barrington Research restated an "outperform" rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $362.29.
View Our Latest Research Report on Affiliated Managers Group
About Affiliated Managers Group
(
Free Report)
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.
See Also
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