Bastion Asset Management Inc. Purchases Shares of 6,101 Affiliated Managers Group, Inc. $AMG

Bastion Asset Management Inc. acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,101 shares of the asset manager’s stock, valued at approximately $1,703,000.

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

Insider Activity

In other news, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the completion of the sale, the director owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. This trade represents a 75.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Annette Franqui purchased 750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 21,902 shares of company stock worth $7,257,719. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen reaffirmed a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a report 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 investment 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $376.62 on Friday. Affiliated Managers Group, Inc. has a 12 month low of $200.00 and a 12 month high of $382.75. The stock’s 50 day moving average is $332.79 and its 200-day moving average is $310.33. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $9.95 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.58 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The company had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the company earned $5.37 earnings per share. Equities research analysts expect that Affiliated Managers Group, Inc. will post 35.48 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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 dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.16%.

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.