Bank of New York Mellon Corp Acquires 3,046 Shares of Affiliated Managers Group, Inc. $AMG

Bank of New York Mellon Corp boosted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 247,189 shares of the asset manager’s stock after purchasing an additional 3,046 shares during the period. Bank of New York Mellon Corp’s holdings in Affiliated Managers Group were worth $71,260,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AMG. Goldman Sachs Group Inc. raised its position in shares of Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after purchasing an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Affiliated Managers Group by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after acquiring an additional 6,262 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Affiliated Managers Group in the first quarter worth $1,947,000. American Century Companies Inc. grew its stake in shares of Affiliated Managers Group by 1.2% in the second quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock worth $1,683,000 after acquiring an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Affiliated Managers Group by 89.9% in the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after acquiring an additional 133 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AMG shares. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research restated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. TD Cowen reiterated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target 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 given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

Insiders Place Their Bets

In other Affiliated Managers Group news, Director Annette Franqui purchased 750 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the acquisition, the director directly owned 1,962 shares of the company’s stock, valued at $598,174.56. This represents a 61.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G. Staley Cates purchased 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, with a total value of $458,745.00. Following the completion of the acquisition, 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. The SEC filing for this purchase provides additional information. Insiders sold a total of 21,902 shares of company stock valued at $7,257,719 over the last three months. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $343.06 on Wednesday. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.57 and a beta of 1.13. The company has a 50 day moving average of $297.89 and a 200-day moving average of $295.33. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. Affiliated Managers Group, Inc. has a 1-year low of $179.79 and a 1-year high of $348.15.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share 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 during the quarter, compared to analyst estimates of $544.01 million. During the same quarter last year, the business posted $5.37 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts forecast that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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