Engineers Gate Manager LP Has $26.61 Million Stock Position in Affiliated Managers Group, Inc. $AMG

Engineers Gate Manager LP boosted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 2,873.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 92,301 shares of the asset manager’s stock after buying an additional 89,197 shares during the period. Engineers Gate Manager LP owned approximately 0.33% of Affiliated Managers Group worth $26,609,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ boosted its holdings in Affiliated Managers Group by 103.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock valued at $4,792,000 after purchasing an additional 10,200 shares during the period. Altfest L J & Co. Inc. acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at approximately $1,179,000. Oak Thistle LLC raised its position in shares of Affiliated Managers Group by 194.1% in the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after buying an additional 5,742 shares in the last quarter. Paragon Associates & Paragon Associates II Joint Venture acquired a new stake in shares of Affiliated Managers Group in the third quarter valued at approximately $5,357,000. Finally, Chase Investment Counsel Corp acquired a new stake in shares of Affiliated Managers Group in the fourth quarter valued at approximately $4,962,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insider Activity at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 17,500 shares of the 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 completion of the transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 4,369 shares in the company, valued at $1,311,486.42. This represents a 18.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $356.35 on Thursday. The company has a 50 day moving average of $307.53 and a 200-day moving average of $299.04. Affiliated Managers Group, Inc. has a 1-year low of $179.79 and a 1-year high of $363.89. 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 company has a market cap of $9.41 billion, a PE ratio of 14.42, a price-to-earnings-growth ratio of 0.60 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping 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 company had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same quarter in the prior year, the firm posted $5.37 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued 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 of this dividend was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is 0.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AMG shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Barrington Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average 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.