Man Group plc Purchases Shares of 24,043 Affiliated Managers Group, Inc. $AMG

Man Group plc bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,043 shares of the asset manager’s stock, valued at approximately $8,136,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in shares of Affiliated Managers Group during the 2nd quarter worth about $25,000. Leonteq Securities AG purchased a new stake in Affiliated Managers Group in the fourth quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Affiliated Managers Group during the fourth quarter worth approximately $42,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Affiliated Managers Group during the second quarter worth approximately $48,000. Finally, EverSource Wealth Advisors LLC raised its stake in 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 purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AMG. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Wall Street Zen raised Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. The Goldman Sachs Group restated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group has a consensus rating of “Buy” and an average price target of $370.86.

Insider Activity

In related news, Director Annette Franqui acquired 750 shares of the business’s stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the transaction, the director directly owned 1,962 shares of the company’s stock, valued at $598,174.56. This trade represents a 61.88% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $5,919,725.00. Following the transaction, the chief executive officer owned 204,706 shares in the company, valued at approximately $69,245,898.62. This represents a 7.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Price Performance

AMG opened at $371.22 on Friday. Affiliated Managers Group, Inc. has a 52-week low of $223.44 and a 52-week high of $392.92. The company has a 50 day moving average of $360.58 and a two-hundred day moving average of $322.25. The company has a market cap of $9.60 billion, a P/E ratio of 12.86, a P/E/G ratio of 0.50 and a beta of 1.11. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. The business had revenue of $640.70 million for the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.39 EPS. On average, analysts expect that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

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.