Louisiana State Employees Retirement System Takes Position in Affiliated Managers Group, Inc. $AMG

Louisiana State Employees Retirement System acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,200 shares of the asset manager’s stock, valued at approximately $2,269,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMG. Leonteq Securities AG acquired a new position in Affiliated Managers Group in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Affiliated Managers Group during the fourth quarter valued at about $42,000. EverSource Wealth Advisors LLC raised its stake in shares of Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 133 shares during the period. Arax Advisory Partners raised its stake in shares of Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 96 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Affiliated Managers Group by 676.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock worth $67,000 after acquiring an additional 203 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Affiliated Managers Group news, Director Annette Franqui purchased 750 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was purchased 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 trade represents a 61.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the transaction, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is currently owned by company insiders.

Affiliated Managers Group Price Performance

Shares of AMG opened at $340.94 on Tuesday. The firm has a market capitalization of $9.00 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.58 and a beta of 1.13. The firm’s fifty day simple moving average is $316.63 and its 200-day simple moving average is $303.38. Affiliated Managers Group, Inc. has a twelve month low of $193.99 and a twelve month high of $363.89. 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 (NYSE:AMG) last issued its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.37 earnings per share. Equities analysts forecast that Affiliated Managers Group, Inc. will post 34.88 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued 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 dividend payout ratio is presently 0.16%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMG. Barrington Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. 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. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average 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.