Genus Capital Management Inc. Has $7.78 Million Stock Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Genus Capital Management increased its stake in Affiliated Managers Group by 19.2% in the fourth quarter, ending with 26,985 shares valued at about $7.78 million.
• Analysts remain largely constructive on AMG, with seven Buy ratings and one Hold; the consensus price target is $362.29, while several firms including Goldman Sachs and TD Cowen reiterated Buy ratings.
• AMG recently reported strong quarterly results, with EPS of $8.23 beating estimates and revenue rising 9.7% year over year; the stock also saw insider activity, including a director purchase and a general counsel share sale.

Genus Capital Management Inc. grew its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 19.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,985 shares of the asset manager's stock after buying an additional 4,350 shares during the quarter. Genus Capital Management Inc. owned 0.10% of Affiliated Managers Group worth $7,779,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Carrera Capital Advisors acquired a new position in shares of Affiliated Managers Group during the third quarter valued at about $4,295,000. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Affiliated Managers Group by 103.0% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager's stock valued at $4,792,000 after buying an additional 10,200 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Affiliated Managers Group by 14.6% during the third quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager's stock valued at $93,741,000 after buying an additional 50,219 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in shares of Affiliated Managers Group during the third quarter valued at about $5,357,000. Finally, Altfest L J & Co. Inc. acquired a new position in shares of Affiliated Managers Group during the fourth quarter valued at about $1,179,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AMG. Barrington Research reaffirmed an "outperform" rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research report on Monday, April 27th. Wall Street Zen downgraded shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $362.29.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $301.99 on Monday. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. Affiliated Managers Group, Inc. has a 52 week low of $172.54 and a 52 week high of $334.78. The firm's 50-day simple moving average is $287.86 and its two-hundred day simple moving average is $290.24.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company's revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.37 earnings per share. As a group, equities analysts forecast that Affiliated Managers Group, Inc. will post 34.31 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group's payout ratio is currently 0.16%.

Insiders Place Their Bets

In related news, Director G. Staley Cates acquired 1,500 shares of the stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the transaction, the director owned 6,405 shares in the company, valued at approximately $1,958,841.15. The trade was a 30.58% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the sale, the general counsel directly owned 42,672 shares in the company, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 14,602 shares of company stock valued at $4,240,522. Company insiders own 2.90% of the company's stock.

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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