Candriam S.C.A. Purchases Shares of 9,228 Affiliated Managers Group, Inc. $AMG

Candriam S.C.A. acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 9,228 shares of the asset manager’s stock, valued at approximately $2,553,000.

Other large investors have also recently made changes to their positions in the company. Leonteq Securities AG acquired a new stake in Affiliated Managers Group during the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Affiliated Managers Group during the 4th quarter worth approximately $42,000. EverSource Wealth Advisors LLC grew its holdings in Affiliated Managers Group by 89.9% during the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after acquiring an additional 133 shares during the period. Arax Advisory Partners increased its holdings in shares of Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after purchasing an additional 96 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Affiliated Managers Group by 676.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock valued at $67,000 after buying an additional 203 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Up 1.8%

NYSE:AMG opened at $366.38 on Wednesday. Affiliated Managers Group, Inc. has a 52 week low of $199.59 and a 52 week high of $369.94. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock has a 50 day moving average of $329.73 and a 200-day moving average of $309.14. The firm has a market capitalization of $9.68 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same period in the previous year, the business posted $5.37 EPS. Affiliated Managers Group’s revenue was up 9.7% on a year-over-year basis. Analysts predict that Affiliated Managers Group, Inc. will post 35.37 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a $0.01 dividend. 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 payout ratio is 0.16%.

Insiders Place Their Bets

In other Affiliated Managers Group news, Director David Christopher Ryan sold 3,402 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the sale, the director owned 1,092 shares in the company, valued at approximately $333,125.52. The trade was a 75.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the sale, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. This trade represents a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,902 shares of company stock worth $7,257,719. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AMG shares. TD Cowen reaffirmed a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Finally, Barrington Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a report on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

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.