Inceptionr LLC Buys 1,578 Shares of Affiliated Managers Group, Inc. $AMG

Inceptionr LLC boosted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 163.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,545 shares of the asset manager’s stock after buying an additional 1,578 shares during the quarter. Inceptionr LLC’s holdings in Affiliated Managers Group were worth $704,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Oak Thistle LLC lifted its position in Affiliated Managers Group by 194.1% during the 4th quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after purchasing an additional 5,742 shares during the period. Altfest L J & Co. Inc. bought a new position in shares of Affiliated Managers Group in the 4th quarter valued at about $1,179,000. Fisher Asset Management LLC grew its position in shares of Affiliated Managers Group by 19.7% during the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock worth $70,291,000 after buying an additional 40,107 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Affiliated Managers Group by 20.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock worth $7,149,000 after buying an additional 4,258 shares during the period. Finally, Chase Investment Counsel Corp bought a new stake in shares of Affiliated Managers Group during the fourth quarter worth approximately $4,962,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $357.38 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $9.44 billion, a P/E ratio of 14.46, a PEG ratio of 0.53 and a beta of 1.12. The business has a 50-day moving average of $339.24 and a 200-day moving average of $312.92. Affiliated Managers Group, Inc. has a 1 year low of $200.00 and a 1 year high of $382.75.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. The business had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. During the same period last year, the company posted $5.37 EPS. Affiliated Managers Group’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post 35.48 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barrington Research restated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a report on Monday, April 27th. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. TD Cowen reiterated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $362.29.

Insider Transactions at Affiliated Managers Group

In other news, Director Annette Franqui purchased 750 shares of Affiliated Managers Group stock in a transaction dated Monday, June 1st. The shares were bought at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the transaction, the director directly owned 1,962 shares in the company, valued at $598,174.56. This trade represents a 61.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the transaction, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This trade represents a 7.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,902 shares of company stock valued at $7,257,719. Corporate insiders own 2.90% of the company’s stock.

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.