Susquehanna Fundamental Investments LLC boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 163.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 19,530 shares of the asset manager’s stock after purchasing an additional 12,106 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Affiliated Managers Group were worth $6,609,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Affiliated Managers Group during the second quarter worth $938,294,000. Bank of America Corp DE purchased a new position in Affiliated Managers Group during the second quarter worth about $146,331,000. Norges Bank bought a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $113,743,000. Balyasny Asset Management L.P. grew its holdings in shares of Affiliated Managers Group by 3,811.8% in the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after acquiring an additional 303,423 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Affiliated Managers Group in the third quarter valued at approximately $70,356,000. Institutional investors and hedge funds own 95.30% of the company’s stock.
Analyst Upgrades and Downgrades
AMG has been the topic of several research analyst reports. TD Cowen reissued a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $370.86.
Affiliated Managers Group Price Performance
Shares of NYSE AMG opened at $368.63 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. Affiliated Managers Group, Inc. has a fifty-two week low of $223.44 and a fifty-two week high of $392.92. The stock has a market cap of $9.53 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.50 and a beta of 1.11. The stock has a fifty day moving average of $360.80 and a 200-day moving average of $322.83.
Affiliated Managers Group (NYSE:AMG – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The business had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.39 EPS. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.
Affiliated Managers Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.14%.
Insider Buying and Selling
In related news, CEO Jay C. Horgen sold 17,500 shares of the company’s 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 owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. This represents a 7.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.
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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