Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 34,950 shares of the asset manager's stock, valued at approximately $11,823,000. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.14% of Affiliated Managers Group at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at $25,000. Leonteq Securities AG bought a new position in shares of Affiliated Managers Group in the 4th quarter valued at about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Affiliated Managers Group in the second quarter valued at approximately $48,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group in the 4th quarter worth $42,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock worth $50,000 after buying an additional 56 shares during the last quarter. 95.30% of the stock is owned by institutional investors.
Insider Activity at Affiliated Managers Group
In other news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the sale, the chief executive officer directly owned 204,706 shares in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Annette Franqui acquired 750 shares of the stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the acquisition, the director directly owned 1,962 shares of the company's stock, valued at $598,174.56. The trade was a 61.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is owned by company insiders.
Affiliated Managers Group Stock Performance
AMG opened at $371.22 on Friday. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 0.50 and a beta of 1.11. The business's 50-day moving average price is $360.58 and its two-hundred day moving average price is $322.25. Affiliated Managers Group, Inc. has a 1 year low of $223.44 and a 1 year high of $392.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24.
Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company had revenue of $640.70 million during the quarter, compared to analysts' expectations of $590.94 million. During the same period in the prior year, the firm earned $5.39 earnings per share. Affiliated Managers Group's revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts expect that Affiliated Managers Group, Inc. will post 36.69 EPS for the current fiscal year.
Affiliated Managers Group Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, August 10th. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.14%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Weiss Ratings reissued a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised Affiliated Managers Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $370.86.
Read Our Latest Research Report on AMG
About Affiliated Managers Group
(
Free Report)
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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