Lighthouse Investment Partners LLC Acquires New Shares in Affiliated Managers Group, Inc. (NYSE:AMG)

Lighthouse Investment Partners LLC bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, HoldingsChannel.com reports. The firm bought 1,989 shares of the asset manager’s stock, valued at approximately $311,000.

Several other large investors also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $28,000. Denali Advisors LLC increased its position in Affiliated Managers Group by 429.2% during the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after buying an additional 206 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Affiliated Managers Group in the second quarter worth $47,000. Blue Trust Inc. lifted its position in shares of Affiliated Managers Group by 107.8% in the second quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after acquiring an additional 499 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Affiliated Managers Group by 333.0% during the fourth quarter. Parallel Advisors LLC now owns 1,195 shares of the asset manager’s stock valued at $181,000 after acquiring an additional 919 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction dated Monday, August 19th. The stock was 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 of the company’s stock, valued at approximately $64,883,926.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares in the company, valued at $14,575,342.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were 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 directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock worth $3,865,068 over the last three months. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Affiliated Managers Group Stock Performance

AMG opened at $176.28 on Monday. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $189.81. The company’s 50 day simple moving average is $171.84 and its 200 day simple moving average is $164.31. The stock has a market capitalization of $5.62 billion, a PE ratio of 9.78, a P/E/G ratio of 0.56 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The company had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. Affiliated Managers Group’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $4.45 EPS. As a group, sell-side analysts expect that Affiliated Managers Group, Inc. will post 22.04 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 Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.22%.

About Affiliated Managers Group

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.