Chase Investment Counsel Corp Invests $4.96 Million in Affiliated Managers Group, Inc. $AMG

Chase Investment Counsel Corp purchased a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,215 shares of the asset manager’s stock, valued at approximately $4,962,000. Affiliated Managers Group comprises approximately 1.4% of Chase Investment Counsel Corp’s portfolio, making the stock its 27th largest position.

A number of other institutional investors have also recently made changes to their positions in AMG. Root Financial Partners LLC acquired a new position in Affiliated Managers Group during the third quarter worth $33,000. Hantz Financial Services Inc. increased its stake in shares of Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after acquiring an additional 93 shares during the last quarter. Millstone Evans Group LLC raised its holdings in shares of Affiliated Managers Group by 41.9% during the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after acquiring an additional 52 shares during the period. Highlander Partners L.P. acquired a new position in shares of Affiliated Managers Group during the 4th quarter valued at about $68,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Affiliated Managers Group by 51.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock valued at $59,000 after acquiring an additional 84 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reissued 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 reiterated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a report on Monday, April 27th. TD Cowen reiterated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.29.

Insider Buying and Selling at Affiliated Managers Group

In related news, General Counsel Kavita Padiyar sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the sale, the general counsel directly owned 42,672 shares in the company, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction 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. In the last three months, insiders have sold 14,602 shares of company stock valued at $4,240,522. Corporate insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Down 0.1%

Shares of AMG opened at $293.75 on Monday. The stock has a market capitalization of $7.76 billion, a PE ratio of 11.88, a P/E/G ratio of 0.51 and a beta of 1.14. Affiliated Managers Group, Inc. has a 1 year low of $172.54 and a 1 year high of $334.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. The company’s 50-day simple moving average is $286.55 and its 200-day simple moving average is $288.21.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping 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 net margin of 35.55% and a return on equity of 20.17%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.37 earnings per share. Analysts forecast that Affiliated Managers Group, Inc. will post 34.27 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is currently 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.