Caisse de depot et placement du Quebec Takes $61.60 Million Position in Affiliated Managers Group, Inc. $AMG

Caisse de depot et placement du Quebec bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 182,041 shares of the asset manager’s stock, valued at approximately $61,603,000.

Several other institutional investors also recently modified their holdings of AMG. N.E.W. Advisory Services LLC bought a new position in Affiliated Managers Group in the 2nd quarter valued at approximately $25,000. Leonteq Securities AG acquired a new position in Affiliated Managers Group during the 4th quarter worth approximately $30,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Affiliated Managers Group during the second quarter worth approximately $48,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group in the fourth quarter valued at $42,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after purchasing an additional 56 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The shares were bought at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the acquisition, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group 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 transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMG. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $370.86.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $370.21 on Friday. Affiliated Managers Group, Inc. has a fifty-two week low of $223.44 and a fifty-two week high of $392.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average price of $360.22 and a 200 day moving average price of $321.90. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 0.50 and a beta of 1.11.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. During the same period in the previous year, the firm posted $5.39 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, sell-side analysts expect that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, August 10th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.14%.

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.