Squarepoint Ops LLC Buys 10,029 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• Squarepoint Ops LLC increased its Affiliated Managers Group position by 131.7% in the second quarter, acquiring 10,029 additional shares for a total of 17,642 shares valued at approximately $5.97 million. Institutional investors collectively own 95.3% of AMG.
• Analyst sentiment remains positive, with AMG holding a consensus “Buy” rating and an average price target of $370.86; ratings include one Strong Buy and seven Buys.
• AMG exceeded quarterly expectations, reporting $8.29 in EPS versus the $7.90 consensus and revenue of $640.7 million versus $590.94 million expected. The stock opened at $355.56, while the company paid a quarterly dividend of $0.01 per share.

Squarepoint Ops LLC grew its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 131.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,642 shares of the asset manager's stock after acquiring an additional 10,029 shares during the quarter. Squarepoint Ops LLC owned 0.07% of Affiliated Managers Group worth $5,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AMG. N.E.W. Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at about $25,000. Leonteq Securities AG purchased a new position in Affiliated Managers Group during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in Affiliated Managers Group during the fourth quarter worth about $42,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Affiliated Managers Group in the 2nd quarter worth about $48,000. Finally, EverSource Wealth Advisors LLC grew its position in Affiliated Managers Group by 45.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock worth $50,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 30th. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research note on Friday, July 31st. Zacks Research raised Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group has a consensus rating of "Buy" and an average target price of $370.86.

Affiliated Managers Group Stock Up 0.3%

AMG stock opened at $355.56 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $9.19 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.48 and a beta of 1.10. Affiliated Managers Group, Inc. has a fifty-two week low of $230.10 and a fifty-two week high of $392.92. The stock has a fifty day moving average of $364.21 and a 200-day moving average of $325.41.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $640.70 million for the quarter, compared to analysts' expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.39 EPS. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is 0.14%.

About Affiliated Managers Group

Affiliated Managers Group, Inc NYSE: AMG is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG's affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.

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