Man Group plc Makes New Investment in Affiliated Managers Group, Inc. $AMG

Man Group plc bought a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,043 shares of the asset manager’s stock, valued at approximately $8,136,000. Man Group plc owned about 0.09% of Affiliated Managers Group as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in Affiliated Managers Group by 2.2% during the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock valued at $539,000 after acquiring an additional 34 shares in the last quarter. Captrust Financial Advisors raised its position in Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after acquiring an additional 34 shares during the period. AlphaCore Capital LLC lifted its stake in Affiliated Managers Group by 3.4% in the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after buying an additional 36 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Affiliated Managers Group by 4.3% in the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after acquiring an additional 42 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after buying an additional 45 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jay C. Horgen sold 17,500 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were 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 in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Annette Franqui purchased 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the purchase, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. This represents a 61.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. 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 reiterated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a report on Friday, July 31st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group has an average rating of “Buy” and a consensus target price of $370.86.

Affiliated Managers Group Stock Up 0.2%

Shares of NYSE AMG opened at $371.22 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market cap 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. The business has a 50-day moving average price of $360.58 and a 200 day moving average price of $322.25. Affiliated Managers Group, Inc. has a 52-week low of $223.44 and a 52-week high of $392.92.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating 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 analysts’ expectations of $590.94 million. During the same period in the previous year, the company posted $5.39 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid 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%.

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.