G. Staley Cates Buys 1,500 Shares of Affiliated Managers Group (NYSE:AMG) Stock

Key Points

• Director G. Staley Cates purchased 1,500 AMG shares on May 6 at $305.83 each, spending $458,745 and increasing his stake by 30.58% to 6,405 shares (≈$1.96M).
• Affiliated Managers Group beat estimates with $8.23 EPS vs. $8.10 expected and revenue of $544.9M (up 9.7% YoY), and analysts hold a consensus "Moderate Buy" with a $362.29 price target.
• Shares traded at $305.84 (up 0.7%), AMG has a market cap of ~$8.12B and a P/E of 12.37, while institutional investors own about 95.3% of the stock.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) Director G. Staley Cates acquired 1,500 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the transaction, the director owned 6,405 shares of the company's stock, valued at approximately $1,958,841.15. This represents a 30.58% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Affiliated Managers Group Stock Up 0.7%

Shares of AMG stock traded up $2.20 on Wednesday, hitting $305.84. The company's stock had a trading volume of 279,223 shares, compared to its average volume of 358,447. Affiliated Managers Group, Inc. has a fifty-two week low of $172.54 and a fifty-two week high of $334.78. The firm's fifty day moving average price is $287.63 and its 200-day moving average price is $285.19. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 0.53 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.13. The company had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a return on equity of 19.92% and a net margin of 35.55%.The firm's revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.37 EPS. Research analysts anticipate that Affiliated Managers Group, Inc. will post 33.65 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners lifted its position in Affiliated Managers Group by 2.1% in the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager's stock valued at $275,957,000 after acquiring an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Affiliated Managers Group by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 699,448 shares of the asset manager's stock valued at $201,640,000 after purchasing an additional 15,332 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Affiliated Managers Group by 20.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager's stock worth $197,641,000 after buying an additional 115,313 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Affiliated Managers Group by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager's stock worth $158,916,000 after purchasing an additional 41,322 shares during the last quarter. Finally, LSV Asset Management increased its position in Affiliated Managers Group by 0.7% during the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager's stock worth $114,357,000 after buying an additional 3,400 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMG has been the subject of a number of research reports. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Barrington Research reiterated an "outperform" rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. TD Cowen dropped their price objective on shares of Affiliated Managers Group to $454.00 and set a "buy" rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $362.29.

About Affiliated Managers Group

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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