Louisiana State Employees Retirement System Purchases New Position in Affiliated Managers Group, Inc. $AMG

Louisiana State Employees Retirement System acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,200 shares of the asset manager’s stock, valued at approximately $2,269,000.

Several other hedge funds also recently made changes to their positions in AMG. Ritholtz Wealth Management increased its position in shares of Affiliated Managers Group by 119.3% during the first quarter. Ritholtz Wealth Management now owns 7,486 shares of the asset manager’s stock worth $2,071,000 after purchasing an additional 4,073 shares in the last quarter. BTC Capital Management Inc. boosted its position in shares of Affiliated Managers Group by 6.5% in the 1st quarter. BTC Capital Management Inc. now owns 1,596 shares of the asset manager’s stock valued at $442,000 after purchasing an additional 97 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in Affiliated Managers Group during the 1st quarter worth approximately $251,000. OP Asset Management Ltd purchased a new position in Affiliated Managers Group during the 1st quarter worth approximately $2,045,000. Finally, SG Americas Securities LLC increased its position in Affiliated Managers Group by 55.0% during the first quarter. SG Americas Securities LLC now owns 2,413 shares of the asset manager’s stock worth $668,000 after buying an additional 856 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Activity

In other news, Director Annette Franqui purchased 750 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the acquisition, the director directly owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. This trade represents a 61.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the sale, the chief executive officer owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,902 shares of company stock valued at $7,257,719 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMG. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen restated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday. Seven research 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, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average target price of $362.29.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $340.94 on Tuesday. 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 business has a 50 day simple moving average of $316.63 and a 200-day simple moving average of $303.38. Affiliated Managers Group, Inc. has a 12 month low of $193.99 and a 12 month high of $363.89. The stock has a market capitalization of $9.00 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating 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 20.17%. The company had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. During the same period in the previous year, the company posted $5.37 EPS. Affiliated Managers Group’s revenue was up 9.7% compared to the same quarter last year. Equities analysts predict that Affiliated Managers Group, Inc. will post 34.88 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared 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 0.16%.

Affiliated Managers Group Company 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.