Livforsakringsbolaget Skandia Omsesidigt Makes New $11.82 Million Investment in Affiliated Managers Group, Inc. $AMG

Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, HoldingsChannel reports. The firm acquired 34,950 shares of the asset manager’s stock, valued at approximately $11,823,000.

Several other large investors also recently made changes to their positions in AMG. BlackRock Inc. bought a new position in shares of Affiliated Managers Group in the second quarter valued at $938,294,000. Bank of America Corp DE acquired a new stake in Affiliated Managers Group in the second quarter valued at $146,331,000. Norges Bank acquired a new stake in Affiliated Managers Group in the fourth quarter valued at $113,743,000. Balyasny Asset Management L.P. grew its position in shares of Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after acquiring an additional 303,423 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of Affiliated Managers Group in the 3rd quarter valued at about $70,356,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction on Monday, June 8th. The stock was 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. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Annette Franqui bought 750 shares of Affiliated Managers Group 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 transaction, the director owned 1,962 shares of the company’s stock, valued at $598,174.56. This trade represents a 61.88% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 2.90% of the company’s stock.

Affiliated Managers Group Trading Up 0.2%

Shares of AMG stock opened at $371.22 on Friday. The firm has a 50 day moving average price of $360.58 and a two-hundred day moving average price of $322.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $9.60 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.50 and a beta of 1.11. Affiliated Managers Group, Inc. has a 12-month low of $223.44 and a 12-month high of $392.92.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. During the same quarter in the previous year, the company posted $5.39 earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, analysts predict that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Monday, August 10th. Affiliated Managers Group’s dividend payout ratio is currently 0.14%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AMG shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a research note on Friday, July 31st. Wall Street Zen raised Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus price target of $370.86.

About Affiliated Managers Group

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.