Affiliated Managers Group (NYSE:AMG) Director G. Staley Cates Buys 1,500 Shares

Affiliated Managers Group, Inc. (NYSE:AMG) Director G. Staley Cates acquired 1,500 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the transaction, the director directly owned 6,405 shares of the company’s stock, valued at $1,958,841.15. This represents a 30.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $305.84 on Thursday. The company’s 50 day moving average price is $287.63 and its 200 day moving average price is $285.19. Affiliated Managers Group, Inc. has a 52 week low of $172.54 and a 52 week high of $334.78. The company has a market capitalization of $8.12 billion, a PE ratio of 12.37, a PEG ratio of 0.53 and a beta of 1.14. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 19.92%. The firm had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. During the same period in the previous year, the firm posted $5.37 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Research analysts expect that Affiliated Managers Group, Inc. will post 33.65 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Institutional Trading of Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the company. Carrera Capital Advisors acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $4,295,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of Affiliated Managers Group by 103.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock valued at $4,792,000 after buying an additional 10,200 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Affiliated Managers Group by 14.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock worth $93,741,000 after purchasing an additional 50,219 shares during the last quarter. Oliver Luxxe Assets LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter worth about $2,673,000. Finally, Paragon Associates & Paragon Associates II Joint Venture bought a new stake in shares of Affiliated Managers Group in the 3rd quarter worth about $5,357,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMG has been the subject 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 note on Saturday, April 4th. Barrington Research reiterated an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. TD Cowen reduced their target price on shares of Affiliated Managers Group to $454.00 and set a “buy” rating for the company in a research note on Monday. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.