Lecap Asset Management Ltd. Acquires New Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Lecap Asset Management Ltd. took a new Q4 position in Affiliated Managers Group (NYSE:AMG), buying 3,685 shares worth about $1.06 million, while institutional investors collectively own roughly 95.3% of the company.
• Analyst sentiment is positive with a consensus rating of “Moderate Buy” (seven Buys, one Hold) and a consensus target price of $350.14; notable notes include Goldman Sachs raising its target to $341 and Deutsche Bank setting $408.
• AMG reported Q4 EPS of $9.48, beating estimates of $8.75 and showing 6.2% revenue growth year‑over‑year; the stock trades at a P/E of about 12.76 with a market cap near $7.9 billion.

Lecap Asset Management Ltd. acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,685 shares of the asset manager's stock, valued at approximately $1,062,000.

Several other institutional investors and hedge funds have also modified their holdings of AMG. US Bancorp DE raised its stake in Affiliated Managers Group by 1.4% during the third quarter. US Bancorp DE now owns 3,561 shares of the asset manager's stock worth $849,000 after purchasing an additional 49 shares during the period. Procyon Advisors LLC raised its stake in Affiliated Managers Group by 3.1% during the third quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager's stock worth $393,000 after purchasing an additional 50 shares during the period. Millstone Evans Group LLC raised its stake in Affiliated Managers Group by 41.9% during the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager's stock worth $42,000 after purchasing an additional 52 shares during the period. Quadrant Capital Group LLC raised its stake in Affiliated Managers Group by 2.1% during the third quarter. Quadrant Capital Group LLC now owns 3,174 shares of the asset manager's stock worth $757,000 after purchasing an additional 64 shares during the period. Finally, Glenmede Investment Management LP raised its stake in Affiliated Managers Group by 3.9% during the third quarter. Glenmede Investment Management LP now owns 1,792 shares of the asset manager's stock worth $427,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMG shares. Wall Street Zen downgraded shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 4th. The Goldman Sachs Group increased their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a "buy" rating in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the stock a "buy" rating in a research note on Friday, February 13th. TD Cowen reissued a "buy" rating on shares of Affiliated Managers Group in a research note on Thursday, April 9th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.14.

Affiliated Managers Group Price Performance

AMG opened at $294.52 on Friday. The company has a fifty day simple moving average of $291.72 and a 200 day simple moving average of $280.42. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.55 and a beta of 1.20. Affiliated Managers Group, Inc. has a twelve month low of $151.30 and a twelve month high of $334.78. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating analysts' consensus estimates of $8.75 by $0.73. The business had revenue of $556.60 million during the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The business's revenue was up 6.2% on a year-over-year basis. During the same period last year, the business earned $6.53 EPS. Equities research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were issued 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 of this dividend was Monday, February 23rd. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.17%.

Insiders Place Their Bets

In related news, COO Thomas M. Wojcik sold 8,000 shares of the firm's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the completion of the sale, the chief operating officer directly owned 159,465 shares of the company's stock, valued at approximately $45,654,829.50. This trade represents a 4.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of the firm's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the transaction, the general counsel directly owned 42,672 shares of the company's stock, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is currently owned by company insiders.

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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