Affiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) Director Annette Franqui bought 750 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the transaction, the director owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Affiliated Managers Group Stock Up 0.6%
AMG stock opened at $312.54 on Thursday. The firm has a 50-day moving average price of $292.88 and a 200-day moving average price of $292.95. Affiliated Managers Group, Inc. has a 12 month low of $179.04 and a 12 month high of $334.78. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $8.25 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 0.52 and a beta of 1.13.
Affiliated Managers Group (NYSE:AMG – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.37 EPS. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.
Affiliated Managers Group Announces Dividend
Hedge Funds Weigh In On Affiliated Managers Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners increased its position in Affiliated Managers Group by 2.1% during the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after purchasing an additional 24,217 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Affiliated Managers Group by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock worth $198,746,000 after purchasing an additional 18,865 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in shares of Affiliated Managers Group by 20.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock worth $197,641,000 after purchasing an additional 115,313 shares during the period. Geode Capital Management LLC boosted its stake in shares of Affiliated Managers Group by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock valued at $158,916,000 after purchasing an additional 41,322 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Affiliated Managers Group by 0.7% during the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock worth $114,357,000 after buying an additional 3,400 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AMG has been the subject of a number of recent research reports. Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Barrington Research reissued an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group restated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, TD Cowen reiterated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $362.29.
Check Out Our Latest Stock Analysis on AMG
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.
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