Affiliated Managers Group, Inc. (NYSE:AMG) Director Buys $584,905.53 in Stock

Affiliated Managers Group, Inc. (NYSE:AMG) Director Samuel T. Byrne bought 6,589 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $88.77 per share, with a total value of $584,905.53. Following the transaction, the director now directly owns 19,082 shares of the company’s stock, valued at $1,693,909.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE:AMG opened at $86.81 on Thursday. The firm has a market capitalization of $4.48 billion, a PE ratio of 6.51, a P/E/G ratio of 0.65 and a beta of 1.64. Affiliated Managers Group, Inc. has a twelve month low of $73.90 and a twelve month high of $147.94. The company has a 50-day moving average price of $79.70 and a two-hundred day moving average price of $93.52.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 29th. The asset manager reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.14. Affiliated Managers Group had a negative net margin of 5.19% and a positive return on equity of 17.68%. The company had revenue of $591.90 million during the quarter, compared to analyst estimates of $540.89 million. During the same period last year, the business earned $3.61 earnings per share. Affiliated Managers Group’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts expect that Affiliated Managers Group, Inc. will post 13.54 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a $0.32 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.47%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 8.83%.

Hedge funds have recently added to or reduced their stakes in the company. Ossiam bought a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $48,000. Rampart Investment Management Company LLC boosted its position in shares of Affiliated Managers Group by 39.6% in the second quarter. Rampart Investment Management Company LLC now owns 666 shares of the asset manager’s stock valued at $61,000 after acquiring an additional 189 shares during the period. Truvestments Capital LLC bought a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $74,000. CSat Investment Advisory L.P. boosted its position in shares of Affiliated Managers Group by 64.5% in the second quarter. CSat Investment Advisory L.P. now owns 847 shares of the asset manager’s stock valued at $78,000 after acquiring an additional 332 shares during the period. Finally, ETF Managers Group LLC bought a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $151,000. Institutional investors own 94.50% of the company’s stock.

A number of equities analysts have weighed in on AMG shares. Citigroup cut their target price on shares of Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Bank of America lowered shares of Affiliated Managers Group from a “buy” rating to an “underperform” rating and cut their target price for the stock from $97.00 to $85.00 in a research report on Tuesday, July 30th. Finally, Barrington Research cut their target price on shares of Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $109.84.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Insider Buying and Selling by Quarter for Affiliated Managers Group (NYSE:AMG)

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