Hsbc Holdings PLC lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 643.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,935 shares of the asset manager’s stock after purchasing an additional 9,465 shares during the quarter. Hsbc Holdings PLC’s holdings in Affiliated Managers Group were worth $3,158,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Oak Thistle LLC increased its position in shares of Affiliated Managers Group by 194.1% in the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock worth $2,508,000 after acquiring an additional 5,742 shares in the last quarter. Altfest L J & Co. Inc. acquired a new position in shares of Affiliated Managers Group during the 4th quarter valued at $1,179,000. Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in Affiliated Managers Group during the 3rd quarter worth $5,357,000. Fisher Asset Management LLC boosted its position in Affiliated Managers Group by 19.7% during the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock worth $70,291,000 after purchasing an additional 40,107 shares during the period. Finally, Chase Investment Counsel Corp acquired a new stake in Affiliated Managers Group in the 4th quarter valued at $4,962,000. Institutional investors and hedge funds own 95.30% of the company’s stock.
Insider Transactions at Affiliated Managers Group
In other news, Director Annette Franqui acquired 750 shares of the business’s stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the purchase, the director directly owned 1,962 shares of the company’s stock, valued at $598,174.56. This represents a 61.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G. Staley Cates bought 1,500 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the acquisition, the director owned 6,405 shares in the company, valued at $1,958,841.15. The trade was a 30.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 21,902 shares of company stock valued at $7,257,719 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.
Analyst Ratings Changes
Get Our Latest Stock Analysis on Affiliated Managers Group
Affiliated Managers Group Price Performance
Shares of AMG stock opened at $342.25 on Monday. The firm has a market cap of $9.04 billion, a P/E ratio of 13.85, a P/E/G ratio of 0.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. Affiliated Managers Group, Inc. has a 1-year low of $193.99 and a 1-year high of $363.89. The firm has a fifty day moving average of $315.79 and a two-hundred day moving average of $302.90.
Affiliated Managers Group (NYSE:AMG – Get Free Report) last issued its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. During the same quarter in the prior year, the business posted $5.37 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 34.88 earnings per share for the current fiscal year.
Affiliated Managers Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued 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, May 11th. Affiliated Managers Group’s payout ratio is currently 0.16%.
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.
Further Reading
- Five stocks we like better than Affiliated Managers Group
- As Stablecoins Keep Growing, These 2 Stocks Benefit
- Apple Just Handed These 4 Memory Stocks Their Best News of the Year
- Costco’s Secret Growth Engine May Be Running Out of Gas
- Why Alphabet’s Pullback May Be an Opportunity in Disguise
Want to see what other hedge funds are holding AMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affiliated Managers Group, Inc. (NYSE:AMG – Free Report).
Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.
