M&T Bank Corp Purchases 21,288 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• M&T Bank Corp boosted its stake in Affiliated Managers Group by 1,665.7% in Q4, buying 21,288 shares to own 22,566 shares worth about $6.51 million (0.08% of the company).
• Insider selling occurred recently — the general counsel sold 2,200 shares and the COO sold 8,000 shares — though corporate insiders still own about 4.2% of AMG.
• Analysts hold a consensus "Moderate Buy" rating with an average price target of $350.14, and AMG recently reported an EPS beat ($9.48 vs. $8.75), with a market cap around $7.64 billion and a PE of 12.46.

M&T Bank Corp increased its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1,665.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,566 shares of the asset manager's stock after buying an additional 21,288 shares during the period. M&T Bank Corp owned 0.08% of Affiliated Managers Group worth $6,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE grew its position in Affiliated Managers Group by 1.4% in the third quarter. US Bancorp DE now owns 3,561 shares of the asset manager's stock worth $849,000 after acquiring an additional 49 shares in the last quarter. Procyon Advisors LLC raised its holdings in shares of Affiliated Managers Group by 3.1% during the 3rd quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager's stock valued at $393,000 after purchasing an additional 50 shares in the last quarter. Millstone Evans Group LLC raised its holdings in shares of Affiliated Managers Group by 41.9% during the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager's stock valued at $42,000 after purchasing an additional 52 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Affiliated Managers Group by 2.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 3,174 shares of the asset manager's stock valued at $757,000 after purchasing an additional 64 shares during the last quarter. Finally, Glenmede Investment Management LP boosted its holdings in Affiliated Managers Group by 3.9% in 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 in the last quarter. Institutional investors own 95.30% of the company's stock.

Insider Activity at Affiliated Managers Group

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

Analysts Set New Price Targets

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

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $287.69 on Friday. The firm has a market capitalization of $7.64 billion, a PE ratio of 12.46, a PEG ratio of 0.52 and a beta of 1.20. Affiliated Managers Group, Inc. has a 1 year low of $160.34 and a 1 year 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. The firm's fifty day simple moving average is $289.75 and its 200 day simple moving average is $282.39.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping analysts' consensus estimates of $8.75 by $0.73. The firm 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 quarter in the previous year, the business earned $6.53 EPS. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 30.49 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were given 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, February 23rd. Affiliated Managers Group's payout ratio is currently 0.17%.

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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