Empowered Funds LLC Grows Position in Affiliated Managers Group, Inc. $AMG

Empowered Funds LLC raised its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 657.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 75,572 shares of the asset manager’s stock after purchasing an additional 65,597 shares during the period. Empowered Funds LLC owned 0.29% of Affiliated Managers Group worth $20,911,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Leonteq Securities AG bought a new position in shares of Affiliated Managers Group in the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group during the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC grew its stake in shares of Affiliated Managers Group by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 133 shares during the period. Arax Advisory Partners increased its holdings in Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after acquiring an additional 96 shares in the last quarter. Finally, WealthCollab LLC increased its holdings in Affiliated Managers Group by 40.5% in the 1st quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock worth $63,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

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

Affiliated Managers Group Trading Up 1.9%

Shares of AMG opened at $370.74 on Wednesday. The firm has a market cap of $9.79 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12. 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, Inc. has a 1 year low of $200.00 and a 1 year high of $382.75. The company has a 50 day simple moving average of $342.09 and a two-hundred day simple moving average of $313.81.

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

Affiliated Managers Group Dividend Announcement

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

Insiders Place Their Bets

In other Affiliated Managers Group news, 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 value of $5,919,725.00. Following the sale, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. The trade was a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G. Staley Cates acquired 1,500 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $305.83 per share, with a total value of $458,745.00. Following the transaction, the director owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. This represents a 30.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is owned by corporate insiders.

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.