25,935 Shares in Affiliated Managers Group, Inc. $AMG Purchased by Chase Investment Counsel Corp

Chase Investment Counsel Corp purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 25,935 shares of the asset manager’s stock, valued at approximately $8,776,000. Affiliated Managers Group accounts for about 1.9% of Chase Investment Counsel Corp’s portfolio, making the stock its 21st largest position. Chase Investment Counsel Corp owned about 0.10% of Affiliated Managers Group as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $25,000. Leonteq Securities AG acquired a new position in shares of Affiliated Managers Group in the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Affiliated Managers Group in the fourth quarter worth $42,000. EverSource Wealth Advisors LLC increased its position in shares of Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after acquiring an additional 56 shares during the period. Finally, Arax Advisory Partners raised its stake 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 acquiring an additional 96 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Annette Franqui acquired 750 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 1st. The stock was purchased 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 approximately $598,174.56. This trade represents a 61.88% 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 business’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 in the company, valued at approximately $69,245,898.62. This represents a 7.88% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. TD Cowen reiterated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a report on Friday, July 31st. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Affiliated Managers Group currently has an average rating of “Buy” and an average price target of $370.86.

Affiliated Managers Group Trading Down 0.1%

NYSE AMG opened at $373.90 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $9.67 billion, a PE ratio of 12.95, a P/E/G ratio of 0.54 and a beta of 1.11. Affiliated Managers Group, Inc. has a one year low of $215.00 and a one year high of $392.92. The firm’s fifty day moving average is $357.57 and its two-hundred day moving average is $318.53.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.39 earnings per share. Analysts expect that Affiliated Managers Group, Inc. will post 36.25 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Monday, August 10th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.14%.

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.