Private Client Services LLC Acquires New Position in Affiliated Managers Group, Inc. $AMG

Private Client Services LLC acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,294 shares of the asset manager’s stock, valued at approximately $1,526,000.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Affiliated Managers Group during the second quarter worth approximately $71,779,000. Balyasny Asset Management L.P. raised its stake in shares of Affiliated Managers Group by 3,811.8% during the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after acquiring an additional 303,423 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Affiliated Managers Group in the third quarter valued at approximately $70,356,000. UBS Group AG boosted its holdings in shares of Affiliated Managers Group by 97.4% in the third quarter. UBS Group AG now owns 350,212 shares of the asset manager’s stock valued at $83,501,000 after purchasing an additional 172,771 shares during the period. Finally, Holocene Advisors LP grew its stake in Affiliated Managers Group by 151.5% in the third quarter. Holocene Advisors LP now owns 253,935 shares of the asset manager’s stock worth $60,546,000 after purchasing an additional 152,982 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on Affiliated Managers Group and gave the stock a “buy” rating in a report on Friday, February 13th. The Goldman Sachs Group increased their price target on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $286.30, for a total value of $2,290,400.00. Following the sale, the chief operating officer owned 159,465 shares in the company, valued at approximately $45,654,829.50. This represents a 4.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the sale, the general counsel directly owned 42,672 shares in the company, valued at $11,873,057.28. The trade was a 4.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $278.47 on Friday. The firm’s fifty day moving average is $305.58 and its two-hundred day moving average is $273.96. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $334.78.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.75 by $0.73. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. During the same quarter in the previous year, the firm posted $6.53 EPS. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. Research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd 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, February 23rd. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.17%.

Affiliated Managers Group 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.