25,891 Shares in Affiliated Managers Group, Inc. $AMG Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 1st quarter, HoldingsChannel reports. The firm purchased 25,891 shares of the asset manager’s stock, valued at approximately $7,164,000.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners raised its holdings in Affiliated Managers Group by 2.1% in the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock worth $275,957,000 after purchasing an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Affiliated Managers Group by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 699,448 shares of the asset manager’s stock valued at $201,640,000 after purchasing an additional 15,332 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Affiliated Managers Group by 20.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock valued at $197,641,000 after buying an additional 115,313 shares during the period. Geode Capital Management LLC increased its position in shares of Affiliated Managers Group by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock valued at $158,916,000 after buying an additional 41,322 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Affiliated Managers Group by 8.5% in the fourth quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager’s stock worth $122,994,000 after buying an additional 33,488 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Trading Up 0.2%

NYSE:AMG opened at $345.17 on Friday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 13.96, a PEG ratio of 0.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. Affiliated Managers Group, Inc. has a one year low of $197.87 and a one year high of $363.89. The company’s 50-day simple moving average is $320.00 and its 200 day simple moving average is $304.97.

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, beating analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same quarter last year, the firm earned $5.37 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 34.88 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on AMG shares. TD Cowen restated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Barrington Research restated an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Insider Activity at Affiliated Managers Group

In related news, Director Annette Franqui bought 750 shares of the company’s stock in a transaction on Monday, June 1st. The shares were acquired 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 owned 1,962 shares of the company’s stock, valued at $598,174.56. The trade was a 61.88% increase in their position. The purchase was disclosed in a document filed 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 on Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, the chief executive officer directly owned 204,706 shares in the company, valued at approximately $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. Insiders have sold 21,902 shares of company stock worth $7,257,719 over the last quarter. 2.90% of the stock is currently owned by company 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.