Livforsakringsbolaget Skandia Omsesidigt Buys 3,100 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Affiliated Managers Group by 9.7% in the first quarter, buying 3,100 additional shares and bringing its total holding to 34,950 shares worth about $9.67 million.
• Wall Street sentiment on AMG remains broadly positive, with seven Buy ratings and one Hold; the consensus target price is $362.29, while several firms recently reaffirmed bullish targets as high as $454.
• AMG reported better-than-expected quarterly earnings of $8.23 per share on revenue of $544.9 million, and the stock was trading near its 52-week high at $366.38 with a market cap of about $9.68 billion.

Livforsakringsbolaget Skandia Omsesidigt raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,950 shares of the asset manager's stock after purchasing an additional 3,100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned 0.13% of Affiliated Managers Group worth $9,671,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AMG. Oak Thistle LLC boosted its holdings in shares of Affiliated Managers Group by 194.1% during the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager's stock worth $2,508,000 after acquiring an additional 5,742 shares during the period. Altfest L J & Co. Inc. bought a new position in shares of Affiliated Managers Group during the fourth quarter worth approximately $1,179,000. Fisher Asset Management LLC increased its stake in shares of Affiliated Managers Group by 19.7% during the fourth quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager's stock worth $70,291,000 after purchasing an additional 40,107 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Affiliated Managers Group by 20.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager's stock worth $7,149,000 after purchasing an additional 4,258 shares during the last quarter. Finally, Chase Investment Counsel Corp acquired a new stake in Affiliated Managers Group during the 4th quarter worth approximately $4,962,000. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on AMG shares. TD Cowen reaffirmed a "buy" rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Weiss Ratings reissued a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Barrington Research restated an "outperform" rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $362.29.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $366.38 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The company has a market cap of $9.68 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. The company has a 50 day moving average of $329.73 and a 200-day moving average of $309.14. Affiliated Managers Group, Inc. has a 1-year low of $199.59 and a 1-year high of $369.94.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business had revenue of $544.90 million for the quarter, compared to analysts' expectations of $544.01 million. During the same period last year, the firm posted $5.37 earnings per share. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 35.37 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a $0.01 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.16%.

Insider Buying and Selling

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is 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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