Jupiter Topco LLC Acquires New Stake in Affiliated Managers Group, Inc. $AMG

Jupiter Topco LLC acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,930 shares of the asset manager’s stock, valued at approximately $3,699,000.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Affiliated Managers Group by 2.2% during the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock valued at $539,000 after acquiring an additional 34 shares in the last quarter. Captrust Financial Advisors boosted its stake in Affiliated Managers Group by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after purchasing an additional 34 shares in the last quarter. AlphaCore Capital LLC boosted its stake 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. Parallel Advisors LLC grew its position in Affiliated Managers Group by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock valued at $281,000 after purchasing an additional 42 shares during the last quarter. Finally, Allworth Financial LP grew its position in Affiliated Managers Group by 10.3% during the 4th 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. 95.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMG has been the subject of several recent analyst reports. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Finally, TD Cowen reaffirmed a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $370.86.

Affiliated Managers Group Price Performance

NYSE AMG opened at $360.52 on Wednesday. Affiliated Managers Group, Inc. has a one year low of $224.59 and a one year high of $392.92. The stock has a 50-day moving average of $361.00 and a 200 day moving average of $323.19. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.39 EPS. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Insider Buying and Selling 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 transaction of $5,919,725.00. Following the transaction, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is owned by insiders.

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.