Arbejdsmarkedets Tillaegspension Acquires 6,142 Shares of Affiliated Managers Group, Inc. $AMG

Arbejdsmarkedets Tillaegspension raised its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 7.2% in the 1st quarter, HoldingsChannel reports. The firm owned 91,949 shares of the asset manager’s stock after buying an additional 6,142 shares during the period. Arbejdsmarkedets Tillaegspension’s holdings in Affiliated Managers Group were worth $25,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Leonteq Securities AG acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at $30,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Affiliated Managers Group during the 4th quarter worth about $42,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Affiliated Managers Group by 89.9% during the 2nd 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. Arax Advisory Partners boosted its holdings in shares of Affiliated Managers Group by 94.1% during the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after buying an additional 96 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in 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 valued at $67,000 after buying an additional 203 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AMG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, Barrington Research restated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Stock Up 0.1%

NYSE AMG opened at $366.80 on Monday. 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 cap of $9.69 billion, a price-to-earnings ratio of 14.84, a PEG ratio of 0.60 and a beta of 1.12. The company has a 50 day moving average of $327.18 and a 200-day moving average of $308.13. Affiliated Managers Group, Inc. has a 1-year low of $199.59 and a 1-year high of $369.94.

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 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 for the quarter, compared to the consensus estimate of $544.01 million. During the same quarter in the prior year, the business posted $5.37 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts expect that Affiliated Managers Group, Inc. will post 35.17 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is presently 0.16%.

Insider Activity at Affiliated Managers Group

In related news, Director G. Staley Cates purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the purchase, the director directly owned 6,405 shares in the company, valued at $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the sale, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,902 shares of company stock worth $7,257,719 in the last quarter. 2.90% of the stock is currently owned by corporate insiders.

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.