Sei Investments Co. Increases Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Sei Investments increased its Affiliated Managers Group stake by 5.2% in the first quarter to 107,654 shares valued at approximately $29.8 million. Institutional investors collectively own 95.3% of AMG’s outstanding stock.
• Analysts remain broadly positive, with seven Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $362.29.
• AMG beat first-quarter expectations, reporting $8.23 in EPS versus the $8.10 consensus and revenue of $544.9 million, up 9.7% year over year. The stock opened at $363.48, near its 12-month high of $382.75.

Sei Investments Co. boosted its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,654 shares of the asset manager's stock after acquiring an additional 5,357 shares during the quarter. Sei Investments Co. owned 0.41% of Affiliated Managers Group worth $29,787,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMG. Leonteq Securities AG purchased a new position in shares of Affiliated Managers Group in the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Affiliated Managers Group during the 4th quarter valued at about $42,000. Arax Advisory Partners lifted its position in Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager's stock worth $57,000 after buying an additional 96 shares during the last quarter. WealthCollab LLC lifted its position in Affiliated Managers Group by 40.5% in the 1st quarter. WealthCollab LLC now owns 229 shares of the asset manager's stock worth $63,000 after buying an additional 66 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in Affiliated Managers Group by 676.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager's stock worth $67,000 after buying an additional 203 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research reaffirmed an "outperform" rating and set a $365.00 target price on shares of Affiliated Managers Group in a report on Monday, April 27th. Wall Street Zen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Sunday, June 28th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Seven research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $362.29.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $363.48 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The firm's fifty day simple moving average is $340.57 and its 200 day simple moving average is $313.37. The stock has a market cap of $9.60 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 0.55 and a beta of 1.12. Affiliated Managers Group, Inc. has a twelve month low of $200.00 and a twelve month high of $382.75.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same period in the prior year, the business earned $5.37 EPS. The company's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 35.48 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is currently 0.16%.

Insider Buying and Selling

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the acquisition, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 21,902 shares of company stock valued at $7,257,719 over the last quarter. 2.90% of the stock is currently owned by insiders.

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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