Caisse de depot et placement du Quebec acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 182,041 shares of the asset manager’s stock, valued at approximately $61,603,000. Caisse de depot et placement du Quebec owned approximately 0.70% of Affiliated Managers Group as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AMG. Danske Bank A S acquired a new stake in Affiliated Managers Group during the 2nd quarter worth $622,000. Fisher Asset Management LLC boosted its position in shares of Affiliated Managers Group by 19.7% in the fourth quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock worth $70,291,000 after acquiring an additional 40,107 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Affiliated Managers Group by 5.2% in the 1st quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock valued at $29,787,000 after purchasing an additional 5,357 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Affiliated Managers Group by 20.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock valued at $7,149,000 after purchasing an additional 4,258 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Affiliated Managers Group in the 1st quarter valued at approximately $7,164,000. Institutional investors own 95.30% of the company’s stock.
Affiliated Managers Group Price Performance
Shares of AMG opened at $370.21 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $9.57 billion, a PE ratio of 12.82, a PEG ratio of 0.50 and a beta of 1.11. The firm’s 50 day moving average price is $360.22 and its 200 day moving average price is $321.90. Affiliated Managers Group, Inc. has a twelve month low of $223.44 and a twelve month high of $392.92.
Affiliated Managers Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th 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, August 10th. Affiliated Managers Group’s payout ratio is presently 0.14%.
Insiders Place Their Bets
In other news, Director Annette Franqui acquired 750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, with a total value of $228,660.00. Following the acquisition, the director 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction 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 transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on AMG. Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a report on Friday, July 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $370.86.
Check Out Our Latest Research Report on Affiliated Managers Group
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.
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