Checchi Capital Advisers LLC Makes New $208,000 Investment in Affiliated Managers Group, Inc. $AMG

Key Points

• Checchi Capital Advisers LLC has made a new investment of $208,000 in Affiliated Managers Group, purchasing 1,056 shares during the second quarter.
• A variety of institutional investors, including Wedge Capital Management and Farther Finance Advisors, have significantly increased their stakes in Affiliated Managers Group, showcasing strong confidence in the firm.
• Affiliated Managers Group recently received multiple "buy" ratings from brokerages, with Goldman Sachs raising its target price from $240.00 to $280.00.

Checchi Capital Advisers LLC bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,056 shares of the asset manager's stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMG. Wedge Capital Management L L P NC increased its holdings in shares of Affiliated Managers Group by 16.5% during the 1st quarter. Wedge Capital Management L L P NC now owns 8,534 shares of the asset manager's stock worth $1,434,000 after buying an additional 1,207 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Affiliated Managers Group by 785.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock worth $315,000 after buying an additional 1,649 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Affiliated Managers Group by 3.9% during the 1st quarter. Blue Trust Inc. now owns 4,623 shares of the asset manager's stock worth $777,000 after buying an additional 175 shares during the last quarter. Moran Wealth Management LLC acquired a new stake in shares of Affiliated Managers Group during the 1st quarter worth approximately $2,795,000. Finally, Bessemer Group Inc. increased its holdings in shares of Affiliated Managers Group by 17.1% during the 1st quarter. Bessemer Group Inc. now owns 1,310 shares of the asset manager's stock worth $221,000 after buying an additional 191 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMG. Wall Street Zen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, September 26th. Weiss Ratings restated a "buy (b-)" rating on shares of Affiliated Managers Group in a report on Saturday, September 27th. The Goldman Sachs Group lifted their target price on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the company a "buy" rating in a report on Monday. Barrington Research reiterated an "outperform" rating and issued a $240.00 target price on shares of Affiliated Managers Group in a report on Tuesday, September 23rd. Finally, Bank of America lifted their target price on shares of Affiliated Managers Group to $335.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $263.60.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $239.40 on Wednesday. The firm has a 50 day moving average price of $227.91 and a 200 day moving average price of $196.68. The company has a market capitalization of $6.80 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 0.63 and a beta of 1.21. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $250.15.

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

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a $0.01 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is 0.29%.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group 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 completion of the transaction, the chief operating officer owned 158,710 shares in the company, valued at $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by company insiders.

Affiliated Managers Group 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.

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