Corient Private Wealth LP Purchases Shares of 24,635 Affiliated Managers Group, Inc. $AMG

Key Points

• Corient Private Wealth LP purchased 24,635 shares of Affiliated Managers Group, valued at approximately $8.34 million, giving it a 0.10% stake. Institutional investors and hedge funds collectively own 95.30% of AMG.
• Analysts remain bullish, with a consensus “Buy” rating and an average price target of $370.86; individual targets range as high as $454.
• AMG exceeded quarterly expectations, reporting $8.29 in EPS versus the $7.90 consensus and $640.7 million in revenue versus $590.94 million expected. Shares opened at $371.22, near the upper end of their 52-week range.

Corient Private Wealth LP purchased a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 24,635 shares of the asset manager's stock, valued at approximately $8,336,000. Corient Private Wealth LP owned about 0.10% of Affiliated Managers Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Affiliated Managers Group by 2.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager's stock valued at $539,000 after purchasing an additional 34 shares during the last quarter. Captrust Financial Advisors increased its position in Affiliated Managers Group by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager's stock valued at $289,000 after buying an additional 34 shares in the last quarter. AlphaCore Capital LLC raised its position in shares of Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager's stock worth $312,000 after purchasing an additional 36 shares during the period. Parallel Advisors LLC lifted its stake in shares of Affiliated Managers Group by 4.3% in the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager's stock valued at $281,000 after buying an additional 42 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager's stock worth $139,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 204,706 shares of the company's stock, valued at $69,245,898.62. The trade was a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMG shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Zacks Research upgraded Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. TD Cowen reaffirmed a "buy" rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research note on Friday, July 31st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $370.86.

Affiliated Managers Group Trading Up 0.1%

Shares of AMG opened at $371.22 on Monday. The business's 50-day moving average price is $360.58 and its 200-day moving average price is $322.37. Affiliated Managers Group, Inc. has a twelve month low of $223.44 and a twelve month high of $392.92. The stock has a market cap of $9.60 billion, a PE ratio of 12.86, a P/E/G ratio of 0.50 and a beta of 1.11. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business had revenue of $640.70 million for the quarter, compared to analysts' expectations of $590.94 million. During the same period in the prior year, the company posted $5.39 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts forecast that Affiliated Managers Group, Inc. will post 36.69 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th 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, August 10th. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.14%.

Affiliated Managers Group Company 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.

Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source