OneDigital Investment Advisors LLC Acquires Shares of 4,109 Affiliated Managers Group, Inc. $AMG

Key Points

• OneDigital Investment Advisors initiated a position in Affiliated Managers Group by purchasing 4,109 shares valued at approximately $1.39 million. Institutional investors collectively own 95.3% of AMG’s outstanding stock.
• AMG reported quarterly EPS of $8.29, exceeding analysts’ $7.90 consensus, while revenue reached $640.7 million versus expectations of $590.94 million.
• Analysts maintain a broadly positive outlook, with the stock carrying an average “Buy” rating and an average price target of $370.86; shares recently opened at $370.93.

OneDigital Investment Advisors LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,109 shares of the asset manager's stock, valued at approximately $1,390,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. N.E.W. Advisory Services LLC bought a new position in shares of Affiliated Managers Group in the 2nd quarter worth $25,000. Leonteq Securities AG bought a new stake in Affiliated Managers Group in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in Affiliated Managers Group in the fourth quarter valued at about $42,000. EverSource Wealth Advisors LLC lifted its stake in Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock valued at $50,000 after buying an additional 56 shares during the period. Finally, Arax Advisory Partners lifted its stake in Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager's stock valued at $57,000 after buying an additional 96 shares during the period. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $370.93 on Tuesday. The stock's fifty day simple moving average is $358.25 and its 200 day simple moving average is $318.97. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $9.59 billion, a PE ratio of 12.85, a PEG ratio of 0.54 and a beta of 1.11. Affiliated Managers Group, Inc. has a 12 month low of $215.00 and a 12 month high of $392.92.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The firm had revenue of $640.70 million during the quarter, compared to analysts' expectations of $590.94 million. During the same period in the previous year, the firm earned $5.39 earnings per share. The company's revenue was up .0% on a year-over-year basis. On average, research analysts predict that Affiliated Managers Group, Inc. will post 36.25 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued 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 is Monday, August 10th. Affiliated Managers Group's payout ratio is 0.14%.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, Director Annette Franqui acquired 750 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the transaction, the director owned 1,962 shares of the company's stock, valued at $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay C. Horgen sold 17,500 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the sale, the chief executive officer directly owned 204,706 shares of the company's stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a "buy" rating and set a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. TD Cowen reissued a "buy" rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Sunday, June 28th. Finally, Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $370.86.

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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