Secure Asset Management LLC Buys Shares of 8,156 Affiliated Managers Group, Inc. $AMG

Secure Asset Management LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,156 shares of the asset manager’s stock, valued at approximately $208,000.

A number of other institutional investors have also made changes to their positions in the stock. N.E.W. Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $25,000. Leonteq Securities AG purchased a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $42,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Affiliated Managers Group in the 2nd quarter valued at approximately $48,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Affiliated Managers Group by 45.5% in 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the sale, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This represents a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on AMG. TD Cowen restated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Finally, Barrington Research set a $425.00 target price on Affiliated Managers Group in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $370.86.

Affiliated Managers Group Price Performance

Shares of AMG opened at $358.21 on Thursday. The company has a market cap of $9.26 billion, a P/E ratio of 12.41, a PEG ratio of 0.49 and a beta of 1.10. Affiliated Managers Group, Inc. has a fifty-two week low of $227.22 and a fifty-two week high of $392.92. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average price is $361.37 and its 200 day moving average price is $323.40.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million during 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 firm’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $5.39 EPS. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

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.