Concentric Capital Strategies LP Has $28.82 Million Holdings in Affiliated Managers Group, Inc. $AMG

Key Points

• Concentric Capital Strategies LP increased its stake in Affiliated Managers Group by 66.1% in the fourth quarter, ending with 99,955 shares valued at about $28.8 million. The position now makes AMG the fund’s 8th largest holding.
• Affiliated Managers Group reported better-than-expected Q1 earnings, posting $8.23 EPS versus the $8.10 consensus estimate, while revenue rose 9.7% year over year to $544.9 million. Analysts currently expect the company to earn 34.71 EPS for the full year.
• Wall Street remains constructive on AMG, with seven Buy ratings and one Hold and a consensus price target of $362.29. Insider activity was mixed, including a large sale by one director and a recent purchase by another.

Concentric Capital Strategies LP lifted its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 66.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 99,955 shares of the asset manager's stock after buying an additional 39,783 shares during the quarter. Affiliated Managers Group comprises 1.4% of Concentric Capital Strategies LP's investment portfolio, making the stock its 8th largest holding. Concentric Capital Strategies LP owned 0.36% of Affiliated Managers Group worth $28,815,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Leonteq Securities AG bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $30,000. Arax Advisory Partners grew its stake in shares of Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager's stock valued at $57,000 after buying an additional 96 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Affiliated Managers Group by 676.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager's stock valued at $67,000 after buying an additional 203 shares in the last quarter. Highlander Partners L.P. acquired a new stake in Affiliated Managers Group in the 4th quarter worth approximately $68,000. Finally, Jones Financial Companies Lllp lifted its holdings in Affiliated Managers Group by 51.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager's stock worth $59,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG opened at $356.35 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $307.53 and a 200 day simple moving average of $299.04. Affiliated Managers Group, Inc. has a one year low of $179.79 and a one year high of $363.89. The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.60 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $544.01 million. During the same period in the prior year, the company posted $5.37 earnings per share. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 34.71 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid 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 is currently 0.16%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AMG shares. Wall Street Zen lowered Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. Barrington Research restated 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 restated a "buy" rating and issued a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen restated a "buy" rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Affiliated Managers Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $362.29.

Insider Activity

In other Affiliated Managers Group news, Director David Christopher Ryan sold 3,402 shares of the 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 completion of the transaction, the director directly owned 1,092 shares in the company, valued at $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Annette Franqui acquired 750 shares of the company's stock in a transaction on Monday, June 1st. The shares were bought at an average price of $304.88 per share, with a total value of $228,660.00. Following the completion of the purchase, the director directly owned 1,962 shares of the company's stock, valued at approximately $598,174.56. This represents a 61.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 21,902 shares of company stock valued at $7,257,719. 2.90% of the stock is owned by company insiders.

Affiliated Managers Group 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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