Janney Montgomery Scott LLC Buys New Shares in Affiliated Managers Group, Inc. $AMG

Janney Montgomery Scott LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the first quarter, HoldingsChannel reports. The institutional investor bought 10,778 shares of the asset manager’s stock, valued at approximately $2,982,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Captrust Financial Advisors increased 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 acquiring an additional 34 shares during the last quarter. AlphaCore Capital LLC increased its holdings in 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 purchasing an additional 36 shares in the last quarter. Allworth Financial LP raised 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 valued at $139,000 after purchasing an additional 45 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in Affiliated Managers Group by 2.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after buying an additional 46 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Affiliated Managers Group by 1.4% during the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the asset manager’s stock worth $928,000 after purchasing an additional 46 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. TD Cowen restated a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 price objective 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 target price 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 report on Monday, May 4th. Finally, Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $362.29.

Insider Activity at Affiliated Managers Group

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the sale, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the transaction, the chief executive officer directly owned 204,706 shares in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,902 shares of company stock worth $7,257,719 over the last ninety days. Insiders own 2.90% of the company’s stock.

Affiliated Managers Group Trading Up 0.9%

Shares of AMG stock opened at $359.88 on Wednesday. The company has a market capitalization of $9.50 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. Affiliated Managers Group, Inc. has a 52-week low of $199.59 and a 52-week high of $363.89. The business’s fifty day moving average is $322.89 and its 200 day moving average is $306.39. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 20.17% and a net margin of 35.55%.The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.37 earnings per share. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.88 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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