Norges Bank Purchases New Position in Affiliated Managers Group, Inc. $AMG

Norges Bank purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 394,559 shares of the asset manager’s stock, valued at approximately $113,743,000. Norges Bank owned approximately 1.40% of Affiliated Managers Group at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMG. Balyasny Asset Management L.P. boosted its holdings in shares of Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after purchasing an additional 303,423 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $70,356,000. Northwestern Mutual Wealth Management Co. raised its holdings in Affiliated Managers Group by 28,466.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager’s stock valued at $58,240,000 after buying an additional 192,715 shares during the period. UBS Group AG raised its holdings in Affiliated Managers Group by 97.4% during the 3rd quarter. UBS Group AG now owns 350,212 shares of the asset manager’s stock valued at $83,501,000 after buying an additional 172,771 shares during the period. Finally, Holocene Advisors LP lifted its position in Affiliated Managers Group by 151.5% in the third quarter. Holocene Advisors LP now owns 253,935 shares of the asset manager’s stock worth $60,546,000 after buying an additional 152,982 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Affiliated Managers Group

In other news, Director G. Staley Cates acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the purchase, the director directly owned 6,405 shares in the company, valued at $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the transaction, the director owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,602 shares of company stock valued at $1,950,122 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Affiliated Managers Group Trading Up 7.3%

AMG stock opened at $334.50 on Friday. The company has a market capitalization of $8.83 billion, a PE ratio of 13.53, a P/E/G ratio of 0.53 and a beta of 1.13. Affiliated Managers Group, Inc. has a 12 month low of $179.04 and a 12 month high of $336.76. The firm’s 50-day moving average is $294.06 and its 200 day moving average is $293.49. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.13. The company had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $5.37 EPS. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, May 11th. Affiliated Managers Group’s payout ratio is currently 0.16%.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of analyst reports. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. TD Cowen restated a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Barrington Research reaffirmed an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Company 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.