Hsbc Holdings PLC Takes Position in Affiliated Managers Group, Inc. $AMG

Hsbc Holdings PLC purchased a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,078 shares of the asset manager’s stock, valued at approximately $1,734,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Affiliated Managers Group by 2.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock valued at $539,000 after buying an additional 34 shares during the period. Captrust Financial Advisors lifted its stake in shares of Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after acquiring an additional 34 shares during the period. AlphaCore Capital LLC boosted its holdings in Affiliated Managers Group by 3.4% in the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 36 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Affiliated Managers Group by 4.3% in the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock valued at $281,000 after acquiring an additional 42 shares during the last quarter. Finally, Allworth Financial LP increased its position in Affiliated Managers Group by 10.3% in the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $371.22 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $9.60 billion, a P/E ratio of 12.86, a PEG ratio of 0.50 and a beta of 1.11. The business has a 50-day moving average of $360.58 and a 200-day moving average of $322.37. Affiliated Managers Group, Inc. has a 1 year low of $223.44 and a 1 year high of $392.92.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $590.94 million. During the same quarter last year, the firm earned $5.39 EPS. Affiliated Managers Group’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 EPS for the current 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 paid a $0.01 dividend. 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, August 10th. Affiliated Managers Group’s payout ratio is presently 0.14%.

Wall Street Analyst Weigh In

AMG has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research note on Friday, July 31st. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Buy” and an average target price of $370.86.

Insider Activity

In other news, CEO Jay C. Horgen sold 17,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 204,706 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. 2.90% of the stock is owned by company insiders.

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.