G. Staley Cates Acquires 1,500 Shares of Affiliated Managers Group (NYSE:AMG) Stock

Affiliated Managers Group, Inc. (NYSE:AMG) Director G. Staley Cates bought 1,500 shares of the stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $305.83 per share, for a total transaction of $458,745.00. Following the purchase, the director owned 6,405 shares of the company’s stock, valued at $1,958,841.15. This trade represents a 30.58% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock traded up $2.20 during trading on Wednesday, reaching $305.84. The company’s stock had a trading volume of 279,223 shares, compared to its average volume of 358,447. Affiliated Managers Group, Inc. has a 52 week low of $172.54 and a 52 week high of $334.78. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. The business’s 50-day moving average price is $287.63 and its 200-day moving average price is $285.19. The firm has a market cap of $8.12 billion, a PE ratio of 12.37, a P/E/G ratio of 0.53 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The firm had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 19.92%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.37 EPS. Equities analysts forecast that Affiliated Managers Group, Inc. will post 33.65 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is presently 0.16%.

Hedge Funds Weigh In On Affiliated Managers Group

Several large investors have recently bought and sold shares of the stock. Leonteq Securities AG bought a new position in shares of Affiliated Managers Group during the fourth quarter valued at about $30,000. Root Financial Partners LLC bought a new position in Affiliated Managers Group during the third quarter valued at $33,000. Meeder Asset Management Inc. purchased a new stake in Affiliated Managers Group in the third quarter worth $34,000. Hantz Financial Services Inc. increased its position in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after buying an additional 93 shares during the last quarter. Finally, Millstone Evans Group LLC raised its stake in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after buying an additional 52 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AMG has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. TD Cowen decreased their price target on shares of Affiliated Managers Group to $454.00 and set a “buy” rating for the company in a research report on Monday. Barrington Research restated an “outperform” rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research report on Monday, April 27th. Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and an average target price of $362.29.

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.