Legal & General Group Plc Buys Shares of 37,566 Affiliated Managers Group, Inc. $AMG

Legal & General Group Plc acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 37,566 shares of the asset manager’s stock, valued at approximately $12,712,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMG. Danske Bank A S purchased a new stake in shares of Affiliated Managers Group during the second quarter worth about $622,000. Fisher Asset Management LLC raised its position in shares of Affiliated Managers Group by 19.7% in the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock valued at $70,291,000 after purchasing an additional 40,107 shares during the last quarter. Sei Investments Co. raised its position in shares of Affiliated Managers Group by 5.2% in the 1st quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock valued at $29,787,000 after purchasing an additional 5,357 shares during the last quarter. Deutsche Bank AG acquired a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $13,432,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Affiliated Managers Group in the 1st quarter worth approximately $7,164,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMG. TD Cowen restated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $370.86.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the sale, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $368.63 on Tuesday. Affiliated Managers Group, Inc. has a twelve month low of $223.44 and a twelve month high of $392.92. The company’s 50 day moving average is $360.80 and its 200 day moving average is $322.83. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $9.53 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.50 and a beta of 1.11.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million during 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 quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $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 firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.14%.

Affiliated Managers Group Company 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.