PEAK6 Investments L.P. lifted its position in shares of Affiliated Managers Group (NYSE:AMG) by 118.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,198 shares of the asset manager’s stock after purchasing an additional 7,803 shares during the period. PEAK6 Investments L.P.’s holdings in Affiliated Managers Group were worth $246,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in AMG. IFM Investors Pty Ltd acquired a new position in Affiliated Managers Group in the 4th quarter valued at about $201,000. Waldron LP acquired a new position in Affiliated Managers Group in the 4th quarter valued at about $201,000. Canandaigua National Bank & Trust Co. acquired a new position in Affiliated Managers Group in the 4th quarter valued at about $204,000. Advisor Group Inc. grew its position in shares of Affiliated Managers Group by 38.5% during the 3rd quarter. Advisor Group Inc. now owns 1,000 shares of the asset manager’s stock worth $190,000 after purchasing an additional 278 shares in the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI acquired a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $205,000. Institutional investors own 96.65% of the company’s stock.
Shares of AMG traded down $5.57 during trading hours on Friday, hitting $176.44. 454,657 shares of the stock were exchanged, compared to its average volume of 376,392. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.23. The stock has a market cap of $9,615.27, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.51. Affiliated Managers Group has a fifty-two week low of $148.81 and a fifty-two week high of $216.99.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, January 29th. The asset manager reported $4.68 EPS for the quarter, topping analysts’ consensus estimates of $4.55 by $0.13. The business had revenue of $604.10 million during the quarter, compared to analysts’ expectations of $608.51 million. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $3.80 earnings per share. sell-side analysts anticipate that Affiliated Managers Group will post 17.21 EPS for the current fiscal year.
Affiliated Managers Group declared that its board has authorized a share repurchase plan on Monday, January 29th that permits the company to buyback 3,400,000 outstanding shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other Affiliated Managers Group news, CFO Jay C. Horgen sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $189.59, for a total value of $5,687,700.00. Following the transaction, the chief financial officer now directly owns 114,039 shares of the company’s stock, valued at $21,620,654.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on AMG. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Goldman Sachs downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price target for the company. in a report on Tuesday, January 9th. Barrington Research upped their price target on shares of Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup increased their price objective on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Deutsche Bank increased their price objective on shares of Affiliated Managers Group from $213.00 to $215.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $228.25.
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Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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