AlphaQuest LLC Increases Stock Holdings in Affiliated Managers Group, Inc. $AMG

AlphaQuest LLC lifted its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 1,184.3% in the fourth quarter, HoldingsChannel reports. The firm owned 8,258 shares of the asset manager’s stock after buying an additional 7,615 shares during the period. AlphaQuest LLC’s holdings in Affiliated Managers Group were worth $2,381,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AMG. Leonteq Securities AG purchased a new position in Affiliated Managers Group during the fourth quarter worth about $30,000. Root Financial Partners LLC purchased a new position in Affiliated Managers Group during the third quarter worth about $33,000. Hantz Financial Services Inc. boosted its stake in Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after buying an additional 93 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Affiliated Managers Group by 89.9% during the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after buying an additional 133 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Affiliated Managers Group by 51.9% during the third quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock worth $59,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research reaffirmed an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. TD Cowen reaffirmed a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus target price of $362.29.

Insider Buying and Selling at Affiliated Managers Group

In other news, General Counsel Kavita Padiyar sold 2,200 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the sale, the general counsel owned 42,672 shares of the company’s stock, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the sale, the director directly owned 4,369 shares in the company, valued at $1,311,486.42. This represents a 18.63% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 14,602 shares of company stock valued at $4,240,522. Corporate insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Up 2.2%

Shares of AMG opened at $308.67 on Wednesday. The stock has a market capitalization of $8.15 billion, a PE ratio of 12.49, a P/E/G ratio of 0.52 and a beta of 1.14. Affiliated Managers Group, Inc. has a 1 year low of $172.54 and a 1 year high of $334.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. The company’s 50-day simple moving average is $289.25 and its 200-day simple moving average is $290.96.

Affiliated Managers Group (NYSE:AMG) last issued 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 business had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.37 earnings per share. Analysts forecast that Affiliated Managers Group, Inc. will post 34.31 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.

Affiliated Managers Group 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.