7,390 Shares in Affiliated Managers Group, Inc. $AMG Purchased by OP Asset Management Ltd

OP Asset Management Ltd purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 7,390 shares of the asset manager’s stock, valued at approximately $2,045,000.

Several other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors raised its holdings in shares of Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after acquiring an additional 34 shares during the last quarter. AlphaCore Capital LLC boosted its stake in shares of Affiliated Managers Group by 3.4% in the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after acquiring an additional 36 shares during the last quarter. Allworth Financial LP increased its position in shares of Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after purchasing an additional 45 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Affiliated Managers Group by 2.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after purchasing an additional 46 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Affiliated Managers Group by 1.4% in the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the asset manager’s stock valued at $928,000 after purchasing an additional 46 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction dated 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 transaction, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at $69,245,898.62. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the transaction, the director owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,902 shares of company stock valued at $7,257,719 in the last quarter. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the topic of a number of research reports. Barrington Research restated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a report on Monday, April 27th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, TD Cowen reaffirmed a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $342.25 on Monday. 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 stock’s fifty day moving average is $315.79 and its two-hundred day moving average is $302.90. The firm has a market capitalization of $9.04 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13. Affiliated Managers Group, Inc. has a fifty-two week low of $193.99 and a fifty-two week high of $363.89.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same period last year, the company earned $5.37 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 34.88 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 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.