Affiliated Managers Group, Inc. (AMG) Insider Jay C. Horgen Acquires 11,000 Shares

Affiliated Managers Group, Inc. (NYSE:AMG) insider Jay C. Horgen bought 11,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average price of $93.19 per share, for a total transaction of $1,025,090.00. Following the acquisition, the insider now directly owns 115,527 shares in the company, valued at $10,765,961.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NYSE:AMG opened at $91.34 on Wednesday. Affiliated Managers Group, Inc. has a 52 week low of $88.46 and a 52 week high of $169.88. The company has a market capitalization of $4.83 billion, a P/E ratio of 6.30, a PEG ratio of 0.66 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.71 and a current ratio of 0.37.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, May 6th. The asset manager reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.27 by ($0.01). Affiliated Managers Group had a positive return on equity of 17.72% and a negative net margin of 4.77%. The firm had revenue of $543.10 million during the quarter, compared to analyst estimates of $541.42 million. During the same quarter in the prior year, the company posted $3.92 EPS. The company’s quarterly revenue was down 11.3% on a year-over-year basis. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 13.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 1.40%. Affiliated Managers Group’s dividend payout ratio is currently 8.83%.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Affiliated Managers Group by 0.3% during the fourth quarter. BlackRock Inc. now owns 3,445,712 shares of the asset manager’s stock valued at $335,747,000 after purchasing an additional 9,189 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Affiliated Managers Group by 33.0% during the first quarter. Renaissance Technologies LLC now owns 1,280,000 shares of the asset manager’s stock valued at $137,101,000 after purchasing an additional 317,700 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Affiliated Managers Group by 0.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,179,673 shares of the asset manager’s stock valued at $126,354,000 after purchasing an additional 7,655 shares during the last quarter. Ceredex Value Advisors LLC grew its holdings in Affiliated Managers Group by 30.5% during the fourth quarter. Ceredex Value Advisors LLC now owns 858,500 shares of the asset manager’s stock valued at $83,652,000 after purchasing an additional 200,450 shares during the last quarter. Finally, Kiltearn Partners LLP acquired a new position in Affiliated Managers Group during the fourth quarter valued at approximately $81,521,000. Hedge funds and other institutional investors own 99.14% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. Deutsche Bank dropped their price objective on Affiliated Managers Group from $111.00 to $103.00 and set a “hold” rating on the stock in a report on Tuesday, May 7th. Barrington Research restated a “buy” rating and issued a $135.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, April 30th. ValuEngine upgraded Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a report on Friday, March 15th. Finally, Jefferies Financial Group downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 price objective on the stock. in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $130.86.

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Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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