Point72 Asia Singapore Pte. Ltd. Has $569,000 Stake in Affiliated Managers Group, Inc. (NYSE:AMG)

Point72 Asia Singapore Pte. Ltd. raised its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 709.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,641 shares of the asset manager’s stock after purchasing an additional 3,191 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Affiliated Managers Group were worth $569,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $28,000. Denali Advisors LLC increased its stake in Affiliated Managers Group by 429.2% during the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in Affiliated Managers Group during the 2nd quarter valued at $47,000. Blue Trust Inc. increased its stake in Affiliated Managers Group by 107.8% during the 2nd quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock valued at $161,000 after purchasing an additional 499 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in Affiliated Managers Group by 333.0% during the 4th quarter. Parallel Advisors LLC now owns 1,195 shares of the asset manager’s stock valued at $181,000 after purchasing an additional 919 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $174.97 on Thursday. Affiliated Managers Group, Inc. has a one year low of $120.22 and a one year high of $189.81. The stock has a market capitalization of $5.58 billion, a P/E ratio of 9.71, a PEG ratio of 0.56 and a beta of 1.20. The firm’s 50 day simple moving average is $171.52 and its two-hundred day simple moving average is $164.03.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 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 analyst estimates of $518.03 million. During the same quarter last year, the firm posted $4.45 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. As a group, equities 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 business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is presently 0.22%.

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 dated 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 sale, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the transaction, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction that occurred on 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 owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AMG has been the subject of a number of recent research reports. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Bank of America upped their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. TD Cowen upped their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Barrington Research upped 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. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.80.

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.