Empowered Funds LLC Purchases Shares of 81,755 Affiliated Managers Group, Inc. $AMG

Empowered Funds LLC purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 81,755 shares of the asset manager’s stock, valued at approximately $27,666,000. Empowered Funds LLC owned about 0.32% of Affiliated Managers Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in shares of Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after buying an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Affiliated Managers Group by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock valued at $23,815,000 after acquiring an additional 6,262 shares during the period. Jane Street Group LLC purchased a new stake in Affiliated Managers Group during the first quarter valued at about $1,947,000. American Century Companies Inc. increased its stake in Affiliated Managers Group by 1.2% during the second quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock worth $1,683,000 after acquiring an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Affiliated Managers Group by 89.9% during the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after acquiring an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $338.27, for a total value 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. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Annette Franqui bought 750 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the acquisition, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. This represents a 61.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Trading Down 0.1%

NYSE:AMG opened at $370.21 on Friday. The firm has a market capitalization of $9.57 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.50 and a beta of 1.11. The business has a 50 day simple moving average of $360.22 and a 200 day simple moving average of $321.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. Affiliated Managers Group, Inc. has a 12-month low of $223.44 and a 12-month high of $392.92.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. During the same quarter last year, the company earned $5.39 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts predict that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were issued a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.14%.

Analyst Ratings Changes

A number of brokerages have recently commented on AMG. TD Cowen reissued a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 22nd. The Goldman Sachs Group restated a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Barrington Research set a $425.00 target price on Affiliated Managers Group in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group has a consensus rating of “Buy” and a consensus target price of $370.86.

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.