Nicola Wealth Management LTD. Has $3.70 Million Holdings in Affiliated Managers Group, Inc. $AMG

Key Points

• Nicola Wealth Management LTD. increased its stake in Affiliated Managers Group, Inc. by 37.5%, acquiring an additional 6,000 shares, bringing its total ownership to approximately 22,000 shares valued at $3,697,000.
• Analysts have shown positive sentiment towards the stock, with upgrades from firms like Goldman Sachs and Bank of America, raising price targets significantly.
• Insider trading activity includes COO Thomas M. Wojcik selling 16,000 shares at an average price of $231.03, reducing their ownership by approximately 9.16%.

Nicola Wealth Management LTD. lifted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 37.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,000 shares of the asset manager's stock after purchasing an additional 6,000 shares during the quarter. Nicola Wealth Management LTD. owned about 0.08% of Affiliated Managers Group worth $3,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMG. Envestnet Asset Management Inc. increased its stake in shares of Affiliated Managers Group by 18.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock valued at $9,028,000 after purchasing an additional 8,361 shares in the last quarter. Private Trust Co. NA lifted its stake in Affiliated Managers Group by 38.1% during the first 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. Farther Finance Advisors LLC raised its stake in shares of Affiliated Managers Group by 785.2% in the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock valued at $315,000 after acquiring an additional 1,649 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Affiliated Managers Group by 189.9% in the first quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock valued at $2,469,000 after acquiring an additional 9,626 shares in the last quarter. Finally, Goodman Financial Corp raised its stake in shares of Affiliated Managers Group by 1.6% in the first quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager's stock valued at $13,578,000 after acquiring an additional 1,301 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Trading Down 0.5%

AMG traded down $1.25 on Monday, hitting $234.86. 224,094 shares of the company's stock were exchanged, compared to its average volume of 222,423. The stock has a fifty day moving average of $217.10 and a two-hundred day moving average of $187.98. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $238.29. The firm has a market cap of $6.67 billion, a PE ratio of 17.14, a P/E/G ratio of 0.62 and a beta of 1.19.

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

Affiliated Managers Group Announces Dividend

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

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction 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 sale, the chief operating officer owned 158,710 shares of the company's stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Bank of America raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $236.00 to $331.00 in a report on Tuesday, September 2nd. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Wall Street Zen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $242.40.

Affiliated Managers Group Profile

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.