Engineers Gate Manager LP Has $26.61 Million Stock Position in Affiliated Managers Group, Inc. $AMG

Engineers Gate Manager LP raised its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 2,873.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,301 shares of the asset manager’s stock after buying an additional 89,197 shares during the period. Engineers Gate Manager LP’s holdings in Affiliated Managers Group were worth $26,609,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Leonteq Securities AG acquired a new stake in Affiliated Managers Group in the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC boosted its position in Affiliated Managers Group by 89.9% in the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after buying an additional 133 shares in the last quarter. Arax Advisory Partners boosted its position in Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after buying an additional 96 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Affiliated Managers Group by 51.9% in the third quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock valued at $59,000 after buying an additional 84 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in Affiliated Managers Group by 676.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock valued at $67,000 after buying an additional 203 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Buying and Selling at Affiliated Managers Group

In other news, Director Annette Franqui bought 750 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, with a total value of $228,660.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction on Monday, June 8th. The stock was 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 of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,902 shares of company stock valued at $7,257,719 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMG. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Barrington Research reiterated an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen reiterated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $356.35 on Thursday. The firm has a market cap of $9.41 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.60 and a beta of 1.13. The firm’s fifty day moving average is $307.53 and its 200-day moving average is $299.04. 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, Inc. has a 52 week low of $179.79 and a 52 week high of $363.89.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The company 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%. Affiliated Managers Group’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.37 earnings per share. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors 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 of this dividend was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.16%.

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.