AXQ Capital LP Invests $693,000 in Affiliated Managers Group, Inc. $AMG

AXQ Capital LP acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,404 shares of the asset manager’s stock, valued at approximately $693,000.

Other large investors also recently modified their holdings of the company. Leonteq Securities AG acquired a new stake in shares of Affiliated Managers Group during the 4th quarter worth approximately $30,000. Hantz Financial Services Inc. grew its position in Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 93 shares during the period. EverSource Wealth Advisors LLC grew 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 valued at $55,000 after purchasing an additional 133 shares during the period. Jones Financial Companies Lllp grew its position in Affiliated Managers Group by 51.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock valued at $59,000 after purchasing an additional 84 shares during the period. Finally, Highlander Partners L.P. acquired a new stake in Affiliated Managers Group in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction on Friday, March 6th. The stock was sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the sale, the chief operating officer directly owned 159,465 shares in the company, valued at $45,654,829.50. The trade was a 4.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 14,602 shares of company stock worth $4,240,522. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AMG. TD Cowen reissued a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, Barrington Research restated an “outperform” rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $311.13 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $291.49 and its two-hundred day simple moving average is $292.24. Affiliated Managers Group, Inc. has a 1-year low of $178.17 and a 1-year high of $334.78. The stock has a market cap of $8.22 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.51 and a beta of 1.13.

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 the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $5.37 EPS. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a dividend of $0.01 per share. 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%.

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.