Hsbc Holdings PLC Acquires New Stake in Affiliated Managers Group, Inc. $AMG

Hsbc Holdings PLC bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, HoldingsChannel.com reports. The firm bought 5,078 shares of the asset manager’s stock, valued at approximately $1,734,000.

A number of other large investors have also recently added to or reduced their stakes in AMG. Danske Bank A S bought a new position in shares of Affiliated Managers Group during the second quarter worth about $622,000. Fisher Asset Management LLC lifted its stake in Affiliated Managers Group by 19.7% in the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock valued at $70,291,000 after acquiring an additional 40,107 shares in the last quarter. Sei Investments Co. boosted its position in Affiliated Managers Group by 5.2% during the 1st quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock worth $29,787,000 after acquiring an additional 5,357 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Affiliated Managers Group by 20.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock worth $7,149,000 after acquiring an additional 4,258 shares during the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $13,432,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.1%

Affiliated Managers Group stock opened at $371.22 on Monday. 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 company’s 50-day moving average is $360.58 and its 200-day moving average is $322.37. The firm has a market capitalization of $9.60 billion, a PE ratio of 12.86, a P/E/G ratio of 0.50 and a beta of 1.11. Affiliated Managers Group, Inc. has a fifty-two week low of $223.44 and a fifty-two week high of $392.92.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $590.94 million. During the same period last year, the business posted $5.39 EPS. Affiliated Managers Group’s revenue was up .0% on a year-over-year basis. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Insider Activity

In other news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred on 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. The trade was a 7.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

AMG has been the topic of a number of research reports. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research report on Friday, July 31st. TD Cowen reiterated a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. 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. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus price target of $370.86.

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.