VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.27 Million in Affiliated Managers Group, Inc. $AMG

Key Points

• Virginia Retirement Systems purchased 3,760 shares of Affiliated Managers Group worth approximately $1.27 million during the second quarter. Institutional investors collectively own 95.30% of AMG’s outstanding shares.
• Analyst sentiment remains positive, with one Strong Buy and seven Buy ratings and a consensus price target of $370.86; Zacks Research recently upgraded the stock to Strong Buy.
• AMG exceeded quarterly expectations, reporting $8.29 in EPS versus the $7.90 consensus and revenue of $640.70 million versus estimates of $590.94 million.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,760 shares of the asset manager's stock, valued at approximately $1,272,000.

Several other large investors have also recently bought and sold shares of the stock. N.E.W. Advisory Services LLC acquired a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $25,000. Leonteq Securities AG acquired a new stake in Affiliated Managers Group during the 4th quarter worth approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $48,000. Caitong International Asset Management Co. Ltd bought a new stake in Affiliated Managers Group in the 4th quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC boosted its stake 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 valued at $50,000 after purchasing an additional 56 shares during the period. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMG has been the subject of a number of research reports. Zacks Research raised Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded 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 price target on shares of Affiliated Managers Group in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $370.86.

Affiliated Managers Group Trading Up 0.3%

Shares of AMG stock opened at $355.56 on Friday. The stock's fifty day moving average price is $364.21 and its two-hundred day moving average price is $325.41. The company has a market cap of $9.19 billion, a PE ratio of 12.32, a P/E/G 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 company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. During the same quarter last year, the company posted $5.39 EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. Equities 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 announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, August 10th. Affiliated Managers Group's payout ratio is currently 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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