Strategic Global Advisors LLC Makes New Investment in Affiliated Managers Group, Inc. $AMG

Strategic Global Advisors LLC acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,706 shares of the asset manager’s stock, valued at approximately $4,977,000.

Other institutional investors also recently modified their holdings of the company. Wallace Capital Management Inc. acquired a new position in shares of Affiliated Managers Group in the 2nd quarter worth approximately $19,740,000. Caisse de depot et placement du Quebec bought a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $61,603,000. Man Group plc acquired a new stake in Affiliated Managers Group during the 2nd quarter valued at $8,136,000. Jupiter Topco LLC acquired a new stake in Affiliated Managers Group during the 2nd quarter valued at $3,699,000. Finally, Hsbc Holdings PLC bought a new position in Affiliated Managers Group in the 2nd quarter valued at $1,734,000. Institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Affiliated Managers Group

In other news, Director Annette Franqui purchased 750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price 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 in the company, valued at approximately $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction dated 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 owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG stock opened at $371.40 on Thursday. 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 has a 50 day moving average price of $359.89 and a 200 day moving average price of $321.44. Affiliated Managers Group, Inc. has a fifty-two week low of $223.44 and a fifty-two week high of $392.92. The stock has a market capitalization of $9.60 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.50 and a beta of 1.11.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. The firm had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned $5.39 EPS. Analysts forecast that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend 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 is 0.14%.

Wall Street Analyst Weigh In

A number of research firms have commented on AMG. Wall Street Zen raised Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 22nd. TD Cowen restated 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 reaffirmed a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $370.86.

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.