6,101 Shares in Affiliated Managers Group, Inc. $AMG Acquired by Bastion Asset Management Inc.

Bastion Asset Management Inc. acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 6,101 shares of the asset manager’s stock, valued at approximately $1,703,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Leonteq Securities AG bought a new stake in shares of Affiliated Managers Group during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group in the fourth quarter worth $42,000. Arax Advisory Partners increased its position in shares of Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after purchasing an additional 96 shares during the period. CIBC Private Wealth Group LLC raised its stake 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 purchasing an additional 203 shares in the last quarter. Finally, Highlander Partners L.P. acquired a new position in Affiliated Managers Group in the fourth quarter valued at about $68,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMG has been the subject of several recent analyst reports. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. TD Cowen reissued a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, 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. 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, the company has an average rating of “Moderate Buy” and an average price target of $362.29.

Insider Buying and Selling

In related news, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the sale, the director directly owned 4,369 shares of the company’s stock, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred 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 sale, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,902 shares of company stock worth $7,257,719 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $376.62 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. Affiliated Managers Group, Inc. has a twelve month low of $200.00 and a twelve month high of $382.75. The company has a market cap of $9.95 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.58 and a beta of 1.12. The business has a fifty day simple moving average of $332.79 and a 200 day simple moving average of $310.33.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. During the same period last year, the firm posted $5.37 earnings per share. Affiliated Managers Group’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 35.48 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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