Carrera Capital Advisors Acquires New Position in Affiliated Managers Group, Inc. $AMG

Carrera Capital Advisors acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,014 shares of the asset manager’s stock, valued at approximately $4,295,000. Affiliated Managers Group comprises about 0.8% of Carrera Capital Advisors’ portfolio, making the stock its 27th biggest position. Carrera Capital Advisors owned about 0.06% of Affiliated Managers Group as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Affiliated Managers Group by 428.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares during the last quarter. Root Financial Partners LLC bought a new position in Affiliated Managers Group during the third quarter worth about $33,000. Meeder Asset Management Inc. acquired a new position in shares of Affiliated Managers Group during the 3rd quarter worth about $34,000. Millstone Evans Group LLC increased its stake in shares of Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 52 shares during the last quarter. Finally, AlphaCore Capital LLC bought a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at about $49,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $313.24 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 0.58 and a beta of 1.19. The stock’s 50-day moving average is $292.83 and its 200-day moving average is $253.67. Affiliated Managers Group, Inc. has a one year low of $139.22 and a one year high of $333.99.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.88 by $0.22. The business had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.Affiliated Managers Group’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.82 EPS. Equities analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were given 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 of this dividend was Thursday, November 13th. Affiliated Managers Group’s payout ratio is currently 0.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AMG shares. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. UBS Group set a $295.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. The Goldman Sachs Group boosted their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Finally, Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday. Six investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $340.50.

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.