Affiliated Managers Group (NYSE:AMG) Director Acquires $228,660.00 in Stock

Affiliated Managers Group, Inc. (NYSE:AMG) Director Annette Franqui purchased 750 shares of Affiliated Managers Group stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the transaction, the director directly owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. This represents a 61.88% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Affiliated Managers Group Stock Up 0.6%

Shares of AMG opened at $336.75 on Friday. The stock has a market capitalization of $8.89 billion, a PE ratio of 13.62, a P/E/G ratio of 0.57 and a beta of 1.13. Affiliated Managers Group, Inc. has a 1 year low of $179.79 and a 1 year high of $338.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. The company’s 50-day simple moving average is $295.19 and its 200-day simple moving average is $293.79.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million for 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 business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.37 earnings per share. Analysts forecast that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were given 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 dividend payout ratio is currently 0.16%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMG. TD Cowen restated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. The Goldman Sachs Group restated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Barrington Research restated an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its position in shares of Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after acquiring an additional 34 shares during the last quarter. AlphaCore Capital LLC grew its position in shares of Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after acquiring an additional 36 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Affiliated Managers Group by 4.3% during the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after acquiring an additional 42 shares during the last quarter. Allworth Financial LP grew its position in shares of Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after acquiring an additional 45 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of Affiliated Managers Group by 2.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after acquiring an additional 46 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

About Affiliated Managers Group

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.