Ieq Capital LLC Acquires New Stake in Affiliated Managers Group, Inc. $AMG

Ieq Capital LLC acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, Holdings Channel reports. The firm acquired 9,036 shares of the asset manager’s stock, valued at approximately $3,058,000.

Several other hedge funds have also added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group in the second quarter worth $25,000. Leonteq Securities AG purchased a new position in shares of Affiliated Managers Group in the 4th quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Affiliated Managers Group in the 2nd quarter worth about $48,000. Caitong International Asset Management Co. Ltd bought a new position in Affiliated Managers Group in the 4th quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC grew its position in Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 56 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Annette Franqui purchased 750 shares of the stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the acquisition, the director directly 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. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE AMG opened at $359.08 on Tuesday. Affiliated Managers Group, Inc. has a one year low of $223.44 and a one year high of $392.92. The stock has a 50-day moving average of $359.42 and a 200 day moving average of $320.56. 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 company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.48 and a beta of 1.11.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.39 EPS. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.14%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMG. Wall Street Zen upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. TD Cowen reissued a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $370.86.

Affiliated Managers Group 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.