Concentric Capital Strategies LP lifted its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 66.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 99,955 shares of the asset manager’s stock after purchasing an additional 39,783 shares during the period. Affiliated Managers Group comprises 1.4% of Concentric Capital Strategies LP’s portfolio, making the stock its 8th largest holding. Concentric Capital Strategies LP’s holdings in Affiliated Managers Group were worth $28,815,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Affiliated Managers Group by 103.0% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock worth $4,792,000 after purchasing an additional 10,200 shares during the last quarter. Altfest L J & Co. Inc. bought a new stake in shares of Affiliated Managers Group during the fourth quarter worth $1,179,000. Oak Thistle LLC grew its holdings in shares of Affiliated Managers Group by 194.1% during the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock worth $2,508,000 after purchasing an additional 5,742 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture bought a new stake in shares of Affiliated Managers Group during the third quarter worth $5,357,000. Finally, Chase Investment Counsel Corp bought a new position in Affiliated Managers Group in the fourth quarter valued at about $4,962,000. Institutional investors own 95.30% of the company’s stock.
Insider Transactions at Affiliated Managers Group
In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total value 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. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the transaction, the director directly owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 21,902 shares of company stock valued at $7,257,719. Corporate insiders own 2.90% of the company’s stock.
Affiliated Managers Group Price Performance
Affiliated Managers Group (NYSE:AMG – Get Free Report) last released its earnings results 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 firm 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 firm posted $5.37 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current year.
Affiliated Managers Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.16%.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Barrington Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a report on Monday, April 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Seven 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 currently has a consensus rating of “Moderate Buy” and an average price target of $362.29.
Check Out Our Latest Stock Analysis on Affiliated Managers Group
About Affiliated Managers Group
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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