Chase Investment Counsel Corp Makes New Investment in Affiliated Managers Group, Inc. $AMG

Chase Investment Counsel Corp bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 25,935 shares of the asset manager’s stock, valued at approximately $8,776,000. Affiliated Managers Group makes up approximately 1.9% of Chase Investment Counsel Corp’s holdings, making the stock its 21st biggest position.

A number of other large investors have also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of Affiliated Managers Group by 2.2% during the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock valued at $539,000 after acquiring an additional 34 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Affiliated Managers Group by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after purchasing an additional 34 shares in the last quarter. AlphaCore Capital LLC lifted its holdings in Affiliated Managers Group by 3.4% in the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 36 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock valued at $281,000 after purchasing an additional 42 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Affiliated Managers Group by 10.3% during the 4th quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after purchasing an additional 45 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $373.90 on Monday. The firm’s fifty day simple moving average is $357.57 and its 200 day simple moving average is $318.53. 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, Inc. has a twelve month low of $215.00 and a twelve month high of $392.92. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 0.54 and a beta of 1.11.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The business had revenue of $640.70 million for the quarter, compared to the consensus estimate of $590.94 million. During the same period last year, the business posted $5.39 EPS. The company’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 36.25 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be paid 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 is Monday, August 10th. Affiliated Managers Group’s payout ratio is 0.14%.

Analysts Set New Price Targets

Several brokerages have weighed in on AMG. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Buy” and an average price target of $370.86.

Insiders Place Their Bets

In other news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Annette Franqui bought 750 shares of the company’s stock in a transaction on Monday, June 1st. The shares were acquired at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the acquisition, the director directly owned 1,962 shares of the company’s stock, valued at $598,174.56. This trade 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.