AlphaCore Capital LLC Acquires New Position in Affiliated Managers Group, Inc. $AMG

AlphaCore Capital LLC acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 248 shares of the asset manager’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 107 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Affiliated Managers Group during the first quarter worth $36,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Affiliated Managers Group by 80.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 102 shares during the last quarter. American National Bank & Trust purchased a new position in Affiliated Managers Group in the second quarter valued at about $58,000. Finally, Brooklyn Investment Group grew its stake in Affiliated Managers Group by 37.1% in the first quarter. Brooklyn Investment Group now owns 377 shares of the asset manager’s stock valued at $63,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.20% of the stock is currently owned by insiders.

Affiliated Managers Group Trading Up 0.8%

NYSE AMG opened at $268.13 on Thursday. Affiliated Managers Group, Inc. has a 1 year low of $139.22 and a 1 year high of $271.48. The company has a fifty day simple moving average of $245.85 and a 200 day simple moving average of $218.32. The company has a market cap of $7.54 billion, a P/E ratio of 19.57, a P/E/G ratio of 0.61 and a beta of 1.25.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. During the same quarter in the previous year, the business earned $4.82 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.24%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMG shares. TD Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. Bank of America increased their price objective on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. UBS Group set a $295.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. Finally, Barrington Research increased their price target on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $290.33.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.