Empowered Funds LLC Makes New Investment in Affiliated Managers Group, Inc. $AMG

Empowered Funds LLC bought a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, HoldingsChannel.com reports. The firm bought 81,755 shares of the asset manager’s stock, valued at approximately $27,666,000.

A number of other hedge funds also recently modified their holdings of the business. United Capital Financial Advisors LLC acquired a new stake in shares of Affiliated Managers Group in the second quarter worth $719,000. Public Employees Retirement System of Ohio purchased a new position in shares of Affiliated Managers Group during the second quarter valued at $8,964,000. Redwood Investment Management LLC acquired a new position in Affiliated Managers Group during the second quarter valued at $1,150,000. Corient Private Wealth LP acquired a new position in Affiliated Managers Group during the second quarter valued at $8,336,000. Finally, Bank of America Corp DE purchased a new stake in Affiliated Managers Group in the 2nd quarter worth about $146,331,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 0.1%

Shares of Affiliated Managers Group stock opened at $370.21 on Friday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. Affiliated Managers Group, Inc. has a 52-week low of $223.44 and a 52-week high of $392.92. The stock has a 50-day simple moving average of $360.22 and a 200-day simple moving average of $321.90.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $590.94 million. During the same quarter in the previous year, the business posted $5.39 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts expect that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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 $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Monday, August 10th. Affiliated Managers Group’s payout ratio is currently 0.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. TD Cowen restated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $370.86.

Insider Buying and Selling at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of the firm’s stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Annette Franqui acquired 750 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, with a total value of $228,660.00. Following the purchase, the director owned 1,962 shares in the company, valued at $598,174.56. The trade was a 61.88% increase in their position. The disclosure for this purchase is available in the SEC filing. 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.