Invenomic Capital Management LP Takes Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Invenomic Capital Management LP acquired a new stake in Affiliated Managers Group, Inc., purchasing 25,954 shares valued at approximately $4.36 million.
• Analysts have issued mixed ratings on Affiliated Managers Group, with TD Cowen and Goldman Sachs upgrading their ratings to "buy" and raising price targets, while Wall Street Zen downgraded it to "hold."
• Affiliated Managers Group recently declared a quarterly dividend of $0.01 per share, representing a 0.0% dividend yield, with the ex-dividend date occurring on August 11.

Invenomic Capital Management LP bought a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 25,954 shares of the asset manager's stock, valued at approximately $4,361,000. Invenomic Capital Management LP owned 0.09% of Affiliated Managers Group as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in shares of Affiliated Managers Group by 18.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock valued at $9,028,000 after acquiring an additional 8,361 shares during the period. Private Trust Co. NA raised its position in shares of Affiliated Managers Group by 38.1% during the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after buying an additional 83 shares during the period. Farther Finance Advisors LLC raised its position in shares of Affiliated Managers Group by 785.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock valued at $315,000 after buying an additional 1,649 shares during the period. XTX Topco Ltd raised its position in shares of Affiliated Managers Group by 189.9% during the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock valued at $2,469,000 after buying an additional 9,626 shares during the period. Finally, Goodman Financial Corp raised its position in shares of Affiliated Managers Group by 1.6% during the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager's stock valued at $13,578,000 after buying an additional 1,301 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AMG shares. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $214.00 to $255.00 in a report on Monday, August 4th. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $197.00 to $218.00 in a report on Friday, June 27th. Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. Finally, Wall Street Zen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $242.40.

Affiliated Managers Group Stock Performance

NYSE AMG traded up $4.43 during mid-day trading on Thursday, reaching $236.87. 40,236 shares of the stock were exchanged, compared to its average volume of 221,135. The business's fifty day simple moving average is $215.72 and its 200 day simple moving average is $186.73. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $237.18. The stock has a market capitalization of $6.73 billion, a PE ratio of 17.25, a PEG ratio of 0.61 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million for the quarter, compared to the consensus estimate of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.67 EPS. On average, analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group's payout ratio is presently 0.29%.

Insiders Place Their Bets

In other news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the transaction, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.20% of the stock is currently owned by company insiders.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.