Traub Capital Management LLC Makes New Investment in Affiliated Managers Group, Inc. $AMG

Traub Capital Management LLC acquired a new stake in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,775 shares of the asset manager’s stock, valued at approximately $940,000. Affiliated Managers Group comprises about 0.9% of Traub Capital Management LLC’s investment portfolio, making the stock its 29th biggest position.

Several other hedge funds have also recently made changes to their positions in AMG. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 107 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Affiliated Managers Group in the first quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Affiliated Managers Group by 80.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock worth $45,000 after buying an additional 102 shares in the last quarter. American National Bank & Trust bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $58,000. Finally, Brooklyn Investment Group grew its holdings in Affiliated Managers Group by 37.1% in the first quarter. Brooklyn Investment Group now owns 377 shares of the asset manager’s stock worth $63,000 after purchasing an additional 102 shares during the period. 95.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the sale, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.20% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG stock opened at $250.56 on Wednesday. The business has a 50-day simple moving average of $242.88 and a two-hundred day simple moving average of $215.08. The company has a market capitalization of $7.05 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $265.59.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. The business had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.Affiliated Managers Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $4.82 earnings per share. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Barrington Research boosted their target price on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group upped their price target on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Bank of America raised their price objective on Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $290.33.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.