Nicola Wealth Management LTD. Acquires 6,000 Shares of 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. raised its holdings in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 37.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,000 shares of the asset manager's stock after acquiring an additional 6,000 shares during the period. Nicola Wealth Management LTD. owned about 0.08% of Affiliated Managers Group worth $3,697,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Millstone Evans Group LLC lifted 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 last quarter. Versant Capital Management Inc raised its position in 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 purchasing an additional 75 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Affiliated Managers Group during the first quarter valued at about $36,000. Private Trust Co. NA grew its holdings in shares of 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 during the last quarter. Finally, Rossby Financial LCC acquired a new position in shares of Affiliated Managers Group in the first quarter valued at approximately $56,000. Institutional investors own 95.30% of the company's stock.

Insider Activity

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the business's stock in a transaction dated 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 transaction, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company's stock.

Affiliated Managers Group Price Performance

NYSE AMG traded up $3.20 during trading hours on Wednesday, reaching $237.98. 171,116 shares of the stock traded hands, compared to its average volume of 222,246. The stock has a 50 day simple moving average of $218.43 and a two-hundred day simple moving average of $188.74. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $239.68. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.62 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, beating analysts' consensus estimates of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business had revenue of $493.20 million for the quarter, compared to analysts' expectations of $506.46 million. During the same period last year, the business earned $4.67 earnings per share. The business's quarterly revenue was down 1.4% on a year-over-year basis. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, August 11th. Affiliated Managers Group's dividend payout ratio is 0.29%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their price target for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Zacks Research raised shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Barrington Research reissued an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Finally, Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus 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.