Goodman Advisory Group LLC Makes New Investment in Affiliated Managers Group, Inc. (NYSE:AMG)

Goodman Advisory Group LLC acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 322 shares of the asset manager’s stock, valued at approximately $50,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Corient Private Wealth LLC grew its holdings in Affiliated Managers Group by 98.8% during the fourth quarter. Corient Private Wealth LLC now owns 9,551 shares of the asset manager’s stock valued at $1,446,000 after purchasing an additional 4,747 shares during the period. Lazard Asset Management LLC lifted its position in shares of Affiliated Managers Group by 87.1% during the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock valued at $3,103,000 after buying an additional 8,628 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Affiliated Managers Group by 24.9% during the 4th quarter. Bridgewater Associates LP now owns 127,360 shares of the asset manager’s stock valued at $19,285,000 after acquiring an additional 25,365 shares during the period. Diversified Trust Co purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $1,293,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Affiliated Managers Group during the 1st quarter worth approximately $4,094,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $176.26 on Friday. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.56 and a beta of 1.20. The business has a 50 day simple moving average of $171.84 and a 200-day simple moving average of $164.24. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $189.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company had revenue of $500.30 million during the quarter, compared to the consensus estimate of $518.03 million. During the same period last year, the company earned $4.45 earnings per share. Affiliated Managers Group’s revenue was down 2.4% on a year-over-year basis. As a group, analysts expect that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group’s payout ratio is 0.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMG shares. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Barrington Research increased their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Bank of America raised their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, TD Cowen lifted their target price on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.80.

Insider Buying and Selling

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the transaction, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $171.98, for a total value of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock valued at $3,865,068 in the last ninety days. 1.90% of the stock is owned by company insiders.

Affiliated Managers Group Company 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.