Sei Investments Co. Increases Stock Position in Affiliated Managers Group, Inc. $AMG

Sei Investments Co. grew its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 5.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 107,654 shares of the asset manager’s stock after buying an additional 5,357 shares during the period. Sei Investments Co.’s holdings in Affiliated Managers Group were worth $29,787,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Leonteq Securities AG bought a new position in shares of Affiliated Managers Group in the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in Affiliated Managers Group during the fourth quarter worth about $42,000. Arax Advisory Partners grew its holdings in Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after purchasing an additional 96 shares during the period. WealthCollab LLC grew its holdings in Affiliated Managers Group by 40.5% in the first quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock worth $63,000 after purchasing an additional 66 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Affiliated Managers Group by 676.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock valued at $67,000 after purchasing an additional 203 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Up 1.4%

NYSE:AMG opened at $363.48 on Tuesday. The firm has a market cap of $9.60 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.55 and a beta of 1.12. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. Affiliated Managers Group, Inc. has a fifty-two week low of $200.00 and a fifty-two week high of $382.75. The firm has a 50-day simple moving average of $340.57 and a two-hundred day simple moving average of $313.37.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. During the same quarter in the prior year, the firm posted $5.37 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Analysts predict that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Buying and Selling

In other Affiliated Managers Group news, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, with a total value of $228,660.00. Following the acquisition, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction on Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,902 shares of company stock worth $7,257,719 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen reaffirmed a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average 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.