Lecap Asset Management Ltd. Invests $494,000 in Affiliated Managers Group, Inc. $AMG

Key Points

• Lecap Asset Management Ltd. invested $494,000 in Affiliated Managers Group, acquiring 2,509 shares during the second quarter.
• Insider COO Thomas M. Wojcik sold 16,000 shares for approximately $3.7 million, reducing his ownership stake by 9.16%.
• Affiliated Managers Group has recently received several upgrades from brokerages, with a consensus rating of "Buy" and a target price of $251.20.

Lecap Asset Management Ltd. bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,509 shares of the asset manager's stock, valued at approximately $494,000.

Other hedge funds have also added to or reduced their stakes in the company. Millstone Evans Group LLC boosted its stake in Affiliated Managers Group by 154.5% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $28,000 after purchasing an additional 102 shares during the period. Versant Capital Management Inc boosted its position in shares of Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after acquiring an additional 75 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Affiliated Managers Group in the first quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Affiliated Managers Group by 80.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager's stock worth $45,000 after acquiring an additional 102 shares during the period. Finally, Private Trust Co. NA raised its stake in Affiliated Managers Group by 38.1% in the 1st quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after purchasing an additional 83 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $36,666,771.30. This represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMG. Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. Barrington Research restated an "outperform" rating and set a $240.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, September 23rd. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, September 26th. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Finally, Zacks Research raised Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $251.20.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $236.32 on Friday. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $250.15. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 0.61 and a beta of 1.21. The business's fifty day moving average is $226.17 and its 200-day moving average is $194.96.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. During the same period in the prior year, the company earned $4.67 EPS. Affiliated Managers Group's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

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.

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