Ritholtz Wealth Management Acquires 4,073 Shares of Affiliated Managers Group, Inc. $AMG

Ritholtz Wealth Management grew its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 119.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,486 shares of the asset manager’s stock after buying an additional 4,073 shares during the quarter. Ritholtz Wealth Management’s holdings in Affiliated Managers Group were worth $2,071,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Affiliated Managers Group in the fourth quarter worth about $113,743,000. Balyasny Asset Management L.P. grew its holdings in shares of Affiliated Managers Group by 3,811.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after acquiring an additional 303,423 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Affiliated Managers Group in the 3rd quarter worth approximately $70,356,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Affiliated Managers Group by 28,466.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager’s stock worth $58,240,000 after acquiring an additional 192,715 shares in the last quarter. Finally, UBS Group AG lifted its stake in shares of Affiliated Managers Group by 97.4% in the 3rd 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. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Up 0.6%

NYSE:AMG opened at $342.25 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13. Affiliated Managers Group, Inc. has a one year low of $193.99 and a one year high of $363.89. The business has a fifty day moving average price of $315.79 and a 200-day moving average price of $302.67.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping 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 company had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. During the same quarter last year, the business earned $5.37 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 34.88 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.16%.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, Director Annette Franqui acquired 750 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the purchase, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Affiliated Managers Group Company 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.