United Capital Financial Advisors LLC Purchases New Stake in Affiliated Managers Group, Inc. $AMG

United Capital Financial Advisors LLC acquired a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,124 shares of the asset manager’s stock, valued at approximately $719,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $25,000. Leonteq Securities AG acquired a new stake in shares of Affiliated Managers Group in the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group in the 4th quarter valued at $42,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Affiliated Managers Group in the 2nd quarter valued at $48,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after buying an additional 56 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. 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. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research note on Friday, July 31st. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $370.86.

Affiliated Managers Group Stock Up 0.1%

Shares of AMG opened at $371.22 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. Affiliated Managers Group, Inc. has a 52 week low of $223.44 and a 52 week high of $392.92. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.50 and a beta of 1.11. The stock has a fifty day moving average of $360.58 and a 200-day moving average of $322.37.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. During the same quarter in the previous year, the company posted $5.39 EPS. Affiliated Managers Group’s quarterly revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Insider Buying and Selling at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.90% of the company’s stock.

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.