North Star Asset Management Inc. Takes $22.66 Million Position in Affiliated Managers Group, Inc. $AMG

North Star Asset Management Inc. bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 66,968 shares of the asset manager’s stock, valued at approximately $22,662,000.

Several other large investors also recently bought and sold shares of AMG. N.E.W. Advisory Services LLC acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at $25,000. Leonteq Securities AG purchased a new stake in shares of Affiliated Managers Group during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Affiliated Managers Group in the 4th quarter valued at $42,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Affiliated Managers Group by 45.5% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AMG has been the topic of several research analyst reports. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research note on Friday, July 31st. Wall Street Zen upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $370.86.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $370.21 on Friday. The company’s 50-day moving average price is $360.22 and its 200 day moving average price is $321.90. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 0.50 and a beta of 1.11. Affiliated Managers Group, Inc. has a 52 week low of $223.44 and a 52 week high of $392.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76.

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, topping analysts’ consensus estimates of $7.90 by $0.39. The firm 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 firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $5.39 EPS. As a group, research analysts forecast 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 declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders 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 yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.14%.

Insider Buying and Selling

In other news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the sale, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at $69,245,898.62. The trade was a 7.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Annette Franqui bought 750 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average cost of $304.88 per share, with a total value of $228,660.00. Following the transaction, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This represents a 61.88% increase in their position. The SEC filing for this purchase provides additional information. 2.90% of the stock is currently owned by insiders.

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.