Inspire Investing LLC Acquires Shares of 10,608 Affiliated Managers Group, Inc. $AMG

Inspire Investing LLC bought a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the first quarter, Holdings Channel.com reports. The institutional investor bought 10,608 shares of the asset manager’s stock, valued at approximately $2,935,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oak Thistle LLC increased its stake in shares of Affiliated Managers Group by 194.1% in the 4th quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock worth $2,508,000 after acquiring an additional 5,742 shares during the last quarter. Altfest L J & Co. Inc. acquired a new position in shares of Affiliated Managers Group during the 4th quarter valued at about $1,179,000. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in shares of Affiliated Managers Group during the 3rd quarter valued at about $5,357,000. Chase Investment Counsel Corp acquired a new position in shares of Affiliated Managers Group during the 4th quarter valued at about $4,962,000. Finally, Fisher Asset Management LLC grew its holdings in shares of Affiliated Managers Group by 19.7% in the fourth quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock valued at $70,291,000 after purchasing an additional 40,107 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $340.94 on Tuesday. The company’s 50 day simple moving average is $316.63 and its 200-day simple moving average is $303.38. The company has a market capitalization of $9.00 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13. Affiliated Managers Group, Inc. has a 1 year low of $193.99 and a 1 year high of $363.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping the consensus estimate of $8.10 by $0.13. The firm had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.37 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 34.88 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is 0.16%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AMG shares. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday. TD Cowen reiterated a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued 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 target on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $362.29.

Insider Buying and Selling at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction 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 sale, the chief executive officer 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the transaction, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 21,902 shares of company stock valued at $7,257,719. Corporate 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.