Edgestream Partners L.P. Lowers Stock Holdings in Affiliated Managers Group, Inc. $AMG

Key Points

• Edgestream Partners cut its Affiliated Managers Group stake by 82.1% in the first quarter, selling 25,015 shares and retaining 5,444 shares valued at $1.51 million. Institutional investors collectively own 95.3% of AMG.
• AMG shares rose 3.9% to $381.16, near their 52-week high, while the company reported quarterly EPS of $8.29 and revenue of $640.7 million, both exceeding analyst expectations.
• Analysts maintain a favorable outlook, with seven Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $370.86. The company also declared a quarterly dividend of $0.01 per share.

Edgestream Partners L.P. lowered its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 82.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,444 shares of the asset manager's stock after selling 25,015 shares during the period. Edgestream Partners L.P.'s holdings in Affiliated Managers Group were worth $1,506,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMG. Oak Thistle LLC raised its holdings in Affiliated Managers Group by 194.1% during the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager's stock worth $2,508,000 after purchasing an additional 5,742 shares in the last quarter. Altfest L J & Co. Inc. purchased a new stake in Affiliated Managers Group in the 4th quarter valued at approximately $1,179,000. Fisher Asset Management LLC boosted its holdings in Affiliated Managers Group by 19.7% in the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager's stock valued at $70,291,000 after purchasing an additional 40,107 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Affiliated Managers Group by 20.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager's stock worth $7,149,000 after purchasing an additional 4,258 shares during the period. Finally, Chase Investment Counsel Corp acquired a new position in Affiliated Managers Group during the 4th quarter worth approximately $4,962,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Trading Up 3.9%

Shares of Affiliated Managers Group stock opened at $381.16 on Tuesday. Affiliated Managers Group, Inc. has a 1 year low of $208.22 and a 1 year high of $384.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.79. The business has a 50 day moving average price of $347.48 and a 200 day moving average price of $315.50. The company has a market capitalization of $10.07 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.56 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The asset manager reported $8.29 earnings per share for the quarter, topping analysts' consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company had revenue of $640.70 million during the quarter, compared to analysts' expectations of $590.94 million. During the same period in the previous year, the firm posted $5.39 earnings per share. The business's revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 35.64 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Monday, August 10th. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.14%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AMG shares. The Goldman Sachs Group restated a "buy" rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Weiss Ratings reissued a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research report on Friday. Finally, TD Cowen reaffirmed a "buy" rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $370.86.

Insider Activity

In other Affiliated Managers Group news, Director Rodriguez Felix V. Matos sold 1,000 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the transaction, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director G. Staley Cates purchased 1,500 shares of the firm's stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the purchase, the director directly owned 6,405 shares in the company, valued at $1,958,841.15. The trade was a 30.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 in the last quarter. Corporate insiders own 2.90% of the company's stock.

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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