OP Asset Management Ltd Takes $2.04 Million Position in Affiliated Managers Group, Inc. $AMG

OP Asset Management Ltd purchased a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,390 shares of the asset manager’s stock, valued at approximately $2,045,000.

A number of other hedge funds have also modified their holdings of AMG. SG Americas Securities LLC increased its position in shares of Affiliated Managers Group by 55.0% during the 1st quarter. SG Americas Securities LLC now owns 2,413 shares of the asset manager’s stock worth $668,000 after purchasing an additional 856 shares during the last quarter. Evolve Private Wealth LLC lifted its position in Affiliated Managers Group by 7.8% in the first quarter. Evolve Private Wealth LLC now owns 3,663 shares of the asset manager’s stock valued at $1,014,000 after buying an additional 264 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Affiliated Managers Group by 4.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,311 shares of the asset manager’s stock valued at $955,000 after buying an additional 135 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Affiliated Managers Group by 46.7% during the fourth quarter. Corient Private Wealth LLC now owns 13,468 shares of the asset manager’s stock worth $3,883,000 after buying an additional 4,288 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Affiliated Managers Group by 643.9% during the fourth quarter. Hsbc Holdings PLC now owns 10,935 shares of the asset manager’s stock worth $3,158,000 after buying an additional 9,465 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Affiliated Managers Group news, Director David Christopher Ryan sold 3,402 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total value of $1,037,814.12. Following the completion of the transaction, the director owned 1,092 shares of the company’s stock, valued at $333,125.52. This trade represents a 75.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Annette Franqui purchased 750 shares of the company’s stock in a transaction on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, with a total value of $228,660.00. Following the purchase, the director owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. This represents a 61.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 over the last three months. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

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

Affiliated Managers Group Stock Up 0.1%

Shares of NYSE:AMG opened at $342.25 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market capitalization of $9.04 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13. The firm’s 50-day moving average is $315.79 and its two-hundred day moving average is $302.90. Affiliated Managers Group, Inc. has a 1 year low of $193.99 and a 1 year high of $363.89.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating 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 business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same quarter last year, the firm posted $5.37 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Analysts predict that Affiliated Managers Group, Inc. will post 34.88 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

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.