Cetera Trust Company N.A Acquires New Shares in Affiliated Managers Group, Inc. $AMG

Cetera Trust Company N.A bought a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,640 shares of the asset manager’s stock, valued at approximately $555,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Algert Global LLC raised its stake in shares of Affiliated Managers Group by 4.0% in the second quarter. Algert Global LLC now owns 23,607 shares of the asset manager’s stock worth $7,989,000 after purchasing an additional 900 shares during the last quarter. PEAK6 LLC purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at $10,001,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Affiliated Managers Group in the 2nd quarter worth about $207,000. Kiltearn Partners LLP purchased a new position in Affiliated Managers Group in the 2nd quarter worth about $62,464,000. Finally, First Nebraska Trust Co purchased a new position in Affiliated Managers Group in the 2nd quarter worth about $218,000. Institutional investors own 95.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on AMG. TD Cowen restated a “buy” rating and set 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 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned 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 $359.08 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $9.29 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.48 and a beta of 1.11. The firm’s 50 day moving average price is $359.42 and its 200-day moving average price is $320.56. Affiliated Managers Group, Inc. has a twelve month low of $223.44 and a twelve month high of $392.92.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results 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 company had revenue of $640.70 million for 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%.Affiliated Managers Group’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm earned $5.39 EPS. Equities research analysts expect that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a dividend of $0.01 per share. 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 payout ratio is presently 0.14%.

Insider Buying and Selling

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 204,706 shares in the company, valued at approximately $69,245,898.62. This trade represents a 7.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Annette Franqui purchased 750 shares of the stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the acquisition, 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 disclosure for this purchase is available in the SEC filing. Insiders own 2.90% of the company’s stock.

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.