Oak Thistle LLC Acquires 5,742 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• Oak Thistle LLC boosted its stake in Affiliated Managers Group by 194.1%, buying an additional 5,742 shares to hold 8,700 shares worth about $2.51 million at quarter-end, while institutional investors own roughly 95.3% of the stock.
• Insider selling: COO Thomas Wojcik sold 8,000 shares for ~$2.29 million and General Counsel Kavita Padiyar sold 2,200 shares for ~$612,000, reducing their holdings; corporate insiders now own about 4.2% of AMG.
• Analyst and financial snapshot: the consensus rating is a Moderate Buy with a $350.14 target, AMG beat quarterly EPS ($9.48 vs. $8.75 est.) but missed revenue, and the stock trades near $270 with a P/E of 11.7.

Oak Thistle LLC increased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 194.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,700 shares of the asset manager's stock after buying an additional 5,742 shares during the period. Oak Thistle LLC's holdings in Affiliated Managers Group were worth $2,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AMG. Root Financial Partners LLC bought a new stake in Affiliated Managers Group in the third quarter valued at approximately $33,000. Meeder Asset Management Inc. bought a new stake in Affiliated Managers Group in the third quarter valued at approximately $34,000. Hantz Financial Services Inc. increased its stake in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock valued at $34,000 after purchasing an additional 93 shares in the last quarter. Millstone Evans Group LLC increased its stake in Affiliated Managers Group by 41.9% in the third 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. Finally, Global Retirement Partners LLC increased its stake in Affiliated Managers Group by 1,237.5% in the third quarter. Global Retirement Partners LLC now owns 214 shares of the asset manager's stock valued at $51,000 after purchasing an additional 198 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 8,000 shares of the stock in a transaction on Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the completion of the transaction, the chief operating officer owned 159,465 shares in the company, valued at approximately $45,654,829.50. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the stock in a transaction 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 transaction, the general counsel owned 42,672 shares of the company's stock, valued at $11,873,057.28. The trade was a 4.90% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AMG. TD Cowen reaffirmed a "buy" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Zacks Research cut shares of Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a report on Monday, December 15th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the stock a "buy" rating in a research report on Friday, February 13th. Finally, Wall Street Zen downgraded shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of "Moderate Buy" and a consensus target price of $350.14.

Affiliated Managers Group Stock Up 1.0%

Shares of AMG stock opened at $269.97 on Wednesday. The firm has a fifty day moving average of $294.38 and a 200-day moving average of $277.68. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group, Inc. has a 12-month low of $140.21 and a 12-month high of $334.78. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 11.70, a P/E/G ratio of 0.44 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The company had revenue of $556.60 million during the quarter, compared to the consensus estimate of $578.54 million. During the same quarter in the prior year, the firm earned $6.53 earnings per share. The firm's revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were issued a dividend of $0.01 per share. The ex-dividend date was Monday, February 23rd. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group's dividend payout ratio is presently 0.17%.

Affiliated Managers Group Company 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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