Cetera Trust Company N.A Invests $555,000 in Affiliated Managers Group, Inc. $AMG

Cetera Trust Company N.A bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,640 shares of the asset manager’s stock, valued at approximately $555,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Affiliated Managers Group in the 2nd quarter worth approximately $938,294,000. Norges Bank bought a new stake in Affiliated Managers Group in the 4th quarter valued at $113,743,000. Balyasny Asset Management L.P. increased its holdings in Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after acquiring an additional 303,423 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Affiliated Managers Group in the 3rd quarter worth $70,356,000. Finally, Bank of New York Mellon Corp purchased a new stake in Affiliated Managers Group in the 2nd quarter worth $95,418,000. Institutional investors own 95.30% of the company’s stock.

Insider Activity at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 17,500 shares of the firm’s 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 in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Annette Franqui acquired 750 shares of the company’s stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the purchase, the director directly owned 1,962 shares of the company’s stock, valued at $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Up 0.8%

Shares of NYSE AMG opened at $359.08 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a 12-month low of $223.44 and a 12-month high of $392.92. The firm’s 50-day moving average price is $359.42 and its 200-day moving average price is $320.56. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 0.48 and a beta of 1.11.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. During the same quarter last year, the business posted $5.39 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were issued a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.14%.

Analyst Ratings Changes

AMG has been the subject of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a research note on Friday, July 31st. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, TD Cowen reaffirmed a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $370.86.

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.