Legal & General Group Plc Invests $12.71 Million in Affiliated Managers Group, Inc. $AMG

Legal & General Group Plc bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,566 shares of the asset manager’s stock, valued at approximately $12,712,000. Legal & General Group Plc owned approximately 0.15% of Affiliated Managers Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $25,000. Leonteq Securities AG purchased a new stake in Affiliated Managers Group during the fourth quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Affiliated Managers Group during the second quarter valued at $48,000. Caitong International Asset Management Co. Ltd bought a new position in Affiliated Managers Group during the fourth quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Affiliated Managers Group by 45.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after buying an additional 56 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on AMG shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a research report on Friday, July 31st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $405.00 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 issued a Buy rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Buy” and an average price target of $370.86.

Affiliated Managers Group Trading Down 0.6%

NYSE AMG opened at $368.63 on Tuesday. The stock has a market cap of $9.53 billion, a PE ratio of 12.77, a PEG ratio of 0.50 and a beta of 1.11. Affiliated Managers Group, Inc. has a 12 month low of $223.44 and a 12 month high of $392.92. The company’s 50-day moving average price is $360.80 and its 200-day moving average price is $322.83. 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 (NYSE:AMG) last issued 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. 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 for the quarter, compared to the consensus estimate of $590.94 million. During the same period in the prior year, the firm earned $5.39 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Insider Activity at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of the 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 transaction, the chief executive officer directly owned 204,706 shares in the company, valued at approximately $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.90% of the company’s stock.

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.