Redwood Investment Management LLC Makes New Investment in Affiliated Managers Group, Inc. $AMG

Redwood Investment Management LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 3,397 shares of the asset manager’s stock, valued at approximately $1,150,000.

Other institutional investors have also recently modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new position in Affiliated Managers Group in the 2nd quarter worth about $25,000. Leonteq Securities AG acquired 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 stake in Affiliated Managers Group in the fourth quarter valued at approximately $42,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $48,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after buying an additional 56 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG opened at $370.21 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50 day moving average price is $360.22 and its 200-day moving average price is $321.90. The firm has a market capitalization of $9.57 billion, a PE ratio of 12.82, a P/E/G ratio of 0.50 and a beta of 1.11. Affiliated Managers Group, Inc. has a 1 year low of $223.44 and a 1 year high of $392.92.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. The firm had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the company earned $5.39 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the transaction, the director directly owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. This represents a 61.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay C. Horgen sold 17,500 shares of the firm’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 completion of the transaction, 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 SEC filing for this sale provides additional information. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.