Tidal Investments LLC Boosts Stock Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Tidal Investments increased its Affiliated Managers Group stake by 129.8% in the second quarter, holding 6,355 shares valued at approximately $2.15 million. Institutional investors collectively own 95.3% of AMG’s stock.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and average price target of $370.86; Barrington Research set a $425 target.
• AMG exceeded quarterly expectations, reporting EPS of $8.29 versus the $7.90 consensus and revenue of $640.7 million versus estimates of $590.94 million.

Tidal Investments LLC grew its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 129.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,355 shares of the asset manager's stock after purchasing an additional 3,589 shares during the period. Tidal Investments LLC's holdings in Affiliated Managers Group were worth $2,151,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMG. BlackRock Inc. purchased a new position in Affiliated Managers Group in the 2nd quarter valued at $938,294,000. Bank of America Corp DE acquired a new position in Affiliated Managers Group in the 2nd quarter valued at $146,331,000. Norges Bank purchased a new position in Affiliated Managers Group during the 4th quarter worth $113,743,000. Bank of New York Mellon Corp acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter worth $95,418,000. Finally, Bruni J V & Co. Co. acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter worth $71,095,810. Hedge funds and other institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AMG. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Wall Street Zen cut Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Finally, Barrington Research set a $425.00 price target on Affiliated Managers Group in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to 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 Performance

Shares of AMG opened at $343.03 on Thursday. Affiliated Managers Group, Inc. has a 12-month low of $230.10 and a 12-month high of $392.92. The stock has a market cap of $8.87 billion, a P/E ratio of 11.88, a PEG ratio of 0.47 and a beta of 1.10. 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 50-day moving average of $363.56 and a two-hundred day moving average of $326.45.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 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 analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $5.39 earnings per share. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 36.69 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Affiliated Managers Group Profile

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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