Affiliated Managers Group (NYSE:AMG) Director G. Staley Cates Buys 1,500 Shares

Key Points

  • Insider purchase: Director G. Staley Cates bought 1,500 AMG shares on May 6 at $305.83 each, raising his stake 30.58% to 6,405 shares valued at about $1.96 million.
  • Quarterly results: AMG reported $8.23 EPS versus $8.10 expected and revenue of $544.9M (up 9.7% YoY), with a 35.6% net margin and 19.9% return on equity.
  • Analyst view and dividend: MarketBeat shows a "Moderate Buy" consensus with a $362.29 price target and several buy ratings, while the company announced a $0.01 quarterly dividend (annualized $0.04, ~0.0% yield).

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) Director G. Staley Cates bought 1,500 shares of the stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the acquisition, the director owned 6,405 shares in the company, valued at $1,958,841.15. The trade was a 30.58% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Affiliated Managers Group Stock Up 0.7%

AMG opened at $305.84 on Thursday. The firm's 50-day simple moving average is $287.63 and its 200-day simple moving average is $285.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. Affiliated Managers Group, Inc. has a twelve month low of $172.54 and a twelve month high of $334.78. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.53 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping 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 19.92%. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. During the same quarter in the prior year, the firm earned $5.37 EPS. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 33.65 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend




The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio is presently 0.16%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new position in Affiliated Managers Group during the 4th quarter valued at about $30,000. Root Financial Partners LLC acquired a new position in Affiliated Managers Group during the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. acquired a new position in Affiliated Managers Group during the 3rd quarter valued at about $34,000. Hantz Financial Services Inc. lifted its position in Affiliated Managers Group by 189.8% during 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. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Affiliated Managers Group during the 4th quarter valued at about $42,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. The Goldman Sachs Group reissued a "buy" rating and set a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday. Finally, TD Cowen decreased their price objective on shares of Affiliated Managers Group to $454.00 and set a "buy" rating on the stock in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $362.29.

Get Our Latest Analysis on Affiliated Managers Group

Affiliated Managers Group Company Profile

(Get Free Report)

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.

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