Y Intercept Hong Kong Ltd Takes Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Y Intercept Hong Kong Ltd opened a new position in Affiliated Managers Group during the first quarter, buying 25,891 shares worth about $7.16 million.
• Wall Street sentiment remains positive on AMG, with seven Buy ratings and one Hold; the average analyst target price is $362.29.
• Affiliated Managers Group reported better-than-expected first-quarter earnings of $8.23 per share and $544.9 million in revenue, while recent insider purchases suggest some confidence in the stock.

Y Intercept Hong Kong Ltd acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,891 shares of the asset manager's stock, valued at approximately $7,164,000. Y Intercept Hong Kong Ltd owned approximately 0.10% of Affiliated Managers Group at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Boston Partners boosted its stake in Affiliated Managers Group by 2.1% in the third quarter. Boston Partners now owns 1,157,344 shares of the asset manager's stock worth $275,957,000 after buying an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 699,448 shares of the asset manager's stock worth $201,640,000 after acquiring an additional 15,332 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Affiliated Managers Group by 20.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager's stock worth $197,641,000 after acquiring an additional 115,313 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Affiliated Managers Group by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager's stock worth $158,916,000 after acquiring an additional 41,322 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Affiliated Managers Group by 8.5% in the 4th quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager's stock valued at $122,994,000 after purchasing an additional 33,488 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AMG shares. TD Cowen reaffirmed a "buy" rating and set a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Barrington Research reissued an "outperform" rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group restated a "buy" rating and set a $405.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $362.29.

Insider Activity

In other news, Director Annette Franqui bought 750 shares of the company's stock in a transaction dated Monday, June 1st. The stock was bought at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the acquisition, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director G. Staley Cates bought 1,500 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the purchase, the director directly owned 6,405 shares of the company's stock, valued at $1,958,841.15. The trade was a 30.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 21,902 shares of company stock valued at $7,257,719. 2.90% of the stock is owned by corporate insiders.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $345.17 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. Affiliated Managers Group, Inc. has a fifty-two week low of $197.87 and a fifty-two week high of $363.89. The firm has a market cap of $9.12 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. The business has a 50 day moving average price of $320.00 and a 200-day moving average price of $304.97.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results 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 company had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. During the same period in the previous year, the firm earned $5.37 earnings per share. The firm's revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts predict that Affiliated Managers Group, Inc. will post 34.88 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a $0.01 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is presently 0.16%.

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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