Holocene Advisors LP Raises Position in Affiliated Managers Group, Inc. $AMG

Holocene Advisors LP lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 151.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,935 shares of the asset manager’s stock after acquiring an additional 152,982 shares during the quarter. Holocene Advisors LP owned 0.90% of Affiliated Managers Group worth $60,546,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Affiliated Managers Group by 428.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 107 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Affiliated Managers Group during the 3rd quarter worth approximately $33,000. Meeder Asset Management Inc. purchased a new position in shares of Affiliated Managers Group during the 3rd quarter worth approximately $34,000. Hantz Financial Services Inc. lifted its holdings in shares of Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after buying an additional 93 shares during the period. Finally, Millstone Evans Group LLC lifted its holdings in shares of Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after buying an additional 52 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $272.78 on Tuesday. The business’s 50-day moving average price is $308.02 and its 200 day moving average price is $273.16. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $334.78. The company has a market capitalization of $7.28 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, beating the consensus estimate of $8.75 by $0.73. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The company had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. During the same quarter in the previous year, the business earned $6.53 EPS. The firm’s revenue was up 6.2% on a year-over-year basis. On average, research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, February 23rd. Affiliated Managers Group’s payout ratio is presently 0.17%.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft set a $408.00 target price on Affiliated Managers Group and gave the company a “buy” rating in a report on Friday, February 13th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Finally, TD Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction on Friday, March 6th. The shares were sold at an average price of $286.30, for a total value of $2,290,400.00. Following the transaction, the chief operating officer owned 159,465 shares in the company, valued at $45,654,829.50. This trade represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the sale, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% 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.