Annette Franqui Buys 750 Shares of Affiliated Managers Group (NYSE:AMG) Stock

Affiliated Managers Group, Inc. (NYSE:AMG) Director Annette Franqui purchased 750 shares of Affiliated Managers Group stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $304.88 per share, with a total value of $228,660.00. Following 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Affiliated Managers Group Stock Up 7.3%

Affiliated Managers Group stock opened at $334.50 on Friday. The stock has a market capitalization of $8.83 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.53 and a beta of 1.13. Affiliated Managers Group, Inc. has a twelve month low of $179.04 and a twelve month high of $336.76. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $294.06 and a 200-day moving average of $293.49.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share 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 during the quarter, compared to analysts’ expectations of $544.01 million. During the same quarter in the prior year, the company earned $5.37 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.16%.

Institutional Trading of Affiliated Managers Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMG. Captrust Financial Advisors increased its position in shares of Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after buying an additional 34 shares during the period. AlphaCore Capital LLC increased its position in shares of Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after buying an additional 36 shares during the period. Parallel Advisors LLC increased its position in shares of Affiliated Managers Group by 4.3% during the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock valued at $281,000 after buying an additional 42 shares during the period. Allworth Financial LP increased its position in shares of Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock valued at $139,000 after buying an additional 45 shares during the period. Finally, Coldstream Capital Management Inc. increased its position in shares of Affiliated Managers Group by 2.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after buying an additional 46 shares during the period. 95.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on AMG shares. The Goldman Sachs Group restated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Barrington Research restated an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a report on Monday, April 27th. Finally, TD Cowen restated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $362.29.

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.