Engineers Gate Manager LP Purchases 32,023 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• Engineers Gate Manager LP increased its Affiliated Managers Group position by 161.4% in the second quarter, purchasing 32,023 additional shares for a total of 51,861 shares valued at approximately $17.55 million.
• Institutional investors and hedge funds own 95.3% of AMG’s outstanding shares, while several other firms also initiated or expanded positions during the period.
• AMG reported quarterly earnings of $8.29 per share, exceeding analyst expectations of $7.90, with revenue of $640.7 million. Analysts maintain an overall “Buy” rating, with an average price target of $370.86.

Engineers Gate Manager LP lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 161.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,861 shares of the asset manager's stock after purchasing an additional 32,023 shares during the quarter. Engineers Gate Manager LP owned 0.20% of Affiliated Managers Group worth $17,550,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at $25,000. Leonteq Securities AG acquired a new position in Affiliated Managers Group in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $42,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Affiliated Managers Group during the 2nd quarter valued at about $48,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Affiliated Managers Group by 45.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock valued at $50,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Stock Down 1.0%

AMG opened at $356.73 on Thursday. The stock's fifty day simple moving average is $363.82 and its 200 day simple moving average is $324.72. Affiliated Managers Group, Inc. has a 1-year low of $230.10 and a 1-year high of $392.92. The stock has a market cap of $9.23 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping analysts' consensus estimates 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 firm 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 business posted $5.39 earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is presently 0.14%.

Analyst Ratings Changes

AMG has been the topic of a number of research reports. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. TD Cowen reiterated a "buy" rating and set a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Wall Street Zen downgraded Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. Finally, Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $370.86.

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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