Hsbc Holdings PLC Has $2.61 Million Stock Holdings in Affiliated Managers Group, Inc. $AMG

Hsbc Holdings PLC decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 14.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,344 shares of the asset manager’s stock after selling 1,591 shares during the quarter. Hsbc Holdings PLC’s holdings in Affiliated Managers Group were worth $2,607,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AMG. Leonteq Securities AG acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Affiliated Managers Group in the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC lifted its position in Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after buying an additional 133 shares in the last quarter. Arax Advisory Partners lifted its position 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 buying an additional 96 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Affiliated Managers Group by 676.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock valued at $67,000 after buying an additional 203 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insiders Place Their Bets

In related news, Director Rodriguez Felix V. Matos sold 1,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the sale, the director directly owned 4,369 shares of the company’s stock, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Annette Franqui bought 750 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the purchase, the director directly owned 1,962 shares in the company, valued at $598,174.56. The trade was a 61.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 21,902 shares of company stock valued at $7,257,719 in the last three months. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG opened at $357.38 on Friday. The company has a market cap of $9.44 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.55 and a beta of 1.12. The stock has a 50-day moving average of $339.24 and a 200-day moving average of $312.92. Affiliated Managers Group, Inc. has a 52-week low of $200.00 and a 52-week high of $382.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data 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. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. During the same period last year, the business earned $5.37 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research reaffirmed an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. TD Cowen reiterated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. 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.com, the stock has an average rating of “Moderate Buy” and an average target price 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.