Daiwa Securities Group Inc. Takes $47,000 Position in Affiliated Managers Group, Inc. (NYSE:AMG)

Daiwa Securities Group Inc. acquired a new position in Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 300 shares of the asset manager’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMG. Denali Advisors LLC lifted its stake in shares of Affiliated Managers Group by 429.2% in 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 during the period. Quadrant Capital Group LLC boosted its holdings in shares of Affiliated Managers Group by 45.6% during the 4th quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock worth $89,000 after buying an additional 185 shares in the last quarter. Blue Trust Inc. grew its position in shares of Affiliated Managers Group by 107.8% during the 2nd quarter. Blue Trust Inc. now owns 962 shares of the asset manager’s stock worth $161,000 after buying an additional 499 shares during the period. Parallel Advisors LLC increased its stake in shares of Affiliated Managers Group by 333.0% in the 4th 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 in the last quarter. Finally, EMC Capital Management lifted its position in shares of Affiliated Managers Group by 27.0% during the 1st quarter. EMC Capital Management now owns 1,190 shares of the asset manager’s stock valued at $199,000 after acquiring an additional 253 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMG has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen increased their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Bank of America boosted their price objective on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Barrington Research upped their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.80.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $175.76 on Thursday. Affiliated Managers Group, Inc. has a fifty-two week low of $120.22 and a fifty-two week high of $189.81. The firm’s 50-day simple moving average is $170.31 and its 200 day simple moving average is $163.30. The stock has a market cap of $5.60 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.20.

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

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders 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 dividend yield of 0.02%. The ex-dividend date of this dividend was Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the sale, the insider now directly owns 128,457 shares of the company’s stock, valued at approximately $22,208,930.73. The disclosure for this sale can be found here. Insiders sold a total of 22,408 shares of company stock worth $3,865,068 in the last quarter. Insiders own 1.90% of the company’s stock.

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.