Algert Global LLC Acquires 13,670 Shares of Affiliated Managers Group, Inc. $AMG

Algert Global LLC boosted its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 23.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,890 shares of the asset manager’s stock after purchasing an additional 13,670 shares during the quarter. Algert Global LLC owned approximately 0.25% of Affiliated Managers Group worth $16,902,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AMG. Goldman Sachs Group Inc. grew its stake in Affiliated Managers Group by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after acquiring an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after purchasing an additional 6,262 shares in the last quarter. Jane Street Group LLC purchased a new stake in Affiliated Managers Group in the 1st quarter worth $1,947,000. Aviva PLC bought a new position in shares of Affiliated Managers Group during the 2nd quarter valued at about $410,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted 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 purchasing an additional 107 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on AMG. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. The Goldman Sachs Group lifted their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price objective on Affiliated Managers Group and gave the stock a “buy” rating in a report on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.14.

Insiders Place Their Bets

In other Affiliated Managers Group news, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction on Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the transaction, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Thomas M. Wojcik sold 8,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the transaction, the chief operating officer owned 159,465 shares in the company, valued at $45,654,829.50. This trade represents a 4.78% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is owned by company insiders.

Affiliated Managers Group Trading Up 0.5%

Shares of NYSE AMG opened at $271.78 on Friday. The business’s 50 day moving average is $308.64 and its two-hundred day moving average is $272.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $334.78. The stock has a market capitalization of $7.25 billion, a P/E ratio of 11.78, a PEG ratio of 0.46 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.75 by $0.73. The business had revenue of $556.60 million during the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the company earned $6.53 EPS. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were given a $0.01 dividend. The ex-dividend date was Monday, February 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.17%.

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.