Key Points
- Director buying: Affiliated Managers Group director Annette Franqui bought 750 shares for about $228,660 at an average price of $304.88, increasing her holdings by 61.88% to 1,962 shares.
- Strong quarterly results: AMG reported EPS of $8.23, beating estimates, and revenue of $544.9 million, also slightly ahead of expectations. Revenue rose 9.7% year over year, and analysts now expect full-year EPS of 34.71.
- Analyst sentiment remains positive: Several firms reaffirmed buy ratings, with price targets ranging from $365 to $454. The stock currently has a consensus rating of Moderate Buy and an average target price of $362.29.
Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) Director Annette Franqui acquired 750 shares of the stock in a transaction dated Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the transaction, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This represents a 61.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Affiliated Managers Group Stock Up 0.6%
Shares of Affiliated Managers Group stock opened at $312.54 on Thursday. Affiliated Managers Group, Inc. has a one year low of $179.04 and a one year high of $334.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The stock's 50-day moving average is $292.88 and its 200 day moving average is $292.95. The firm has a market cap of $8.25 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.52 and a beta of 1.13.
Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million during 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%.During the same quarter last year, the firm posted $5.37 earnings per share. The firm's revenue was up 9.7% on a year-over-year basis. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current year.
Affiliated Managers Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.16%.
Analysts Set New Price Targets
AMG has been the topic of several research analyst reports. TD Cowen reissued a "buy" rating and set a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research reissued an "outperform" rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research report on Monday, April 27th. 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. Finally, Wall Street Zen lowered Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $362.29.
Check Out Our Latest Analysis on AMG
Institutional Trading of Affiliated Managers Group
Hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors raised its stake in Affiliated Managers Group by 3.5% in the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager's stock valued at $289,000 after purchasing an additional 34 shares in the last quarter. AlphaCore Capital LLC increased its holdings in shares of Affiliated Managers Group by 3.4% in the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager's stock worth $312,000 after buying an additional 36 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Affiliated Managers Group by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager's stock worth $281,000 after acquiring an additional 42 shares during the last quarter. Allworth Financial LP grew its position in Affiliated Managers Group by 10.3% in the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager's stock worth $139,000 after acquiring an additional 45 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Affiliated Managers Group by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager's stock valued at $692,000 after acquiring an additional 46 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.
About Affiliated Managers Group
(
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
