Lecap Asset Management Ltd. Takes $494,000 Position in Affiliated Managers Group, Inc. $AMG

Lecap Asset Management Ltd. purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,509 shares of the asset manager’s stock, valued at approximately $494,000.

Several other hedge funds have also added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. bought a new stake in shares of Affiliated Managers Group in the second quarter worth $3,832,000. Truist Financial Corp lifted its holdings in Affiliated Managers Group by 6.1% during the 2nd quarter. Truist Financial Corp now owns 2,409 shares of the asset manager’s stock worth $474,000 after buying an additional 139 shares during the period. American National Bank & Trust bought a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at about $58,000. Forte Capital LLC ADV increased its stake in shares of Affiliated Managers Group by 6.5% in the second quarter. Forte Capital LLC ADV now owns 3,425 shares of the asset manager’s stock valued at $674,000 after buying an additional 210 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Affiliated Managers Group by 66.9% in the second quarter. GAMMA Investing LLC now owns 1,252 shares of the asset manager’s stock valued at $246,000 after buying an additional 502 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barrington Research reaffirmed an “outperform” rating and issued a $240.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, September 23rd. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 22nd. TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, September 26th. Finally, Cowen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group has an average rating of “Buy” and a consensus target price of $251.20.

Insider Activity at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at $36,666,771.30. The trade was a 9.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by corporate insiders.

Affiliated Managers Group Stock Up 2.3%

Shares of AMG stock opened at $236.32 on Friday. The firm has a 50 day moving average of $226.17 and a 200-day moving average of $194.96. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $250.15.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.13. The business had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. Affiliated Managers Group’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $4.67 earnings per share. Analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a $0.01 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.29%.

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.