Mackenzie Financial Corp buys 1,059 shares of Affiliated Managers Group, Inc. (NYSE:AMG)

VaselineOctober 6, 2024

0 4 minutes read

Mackenzie Financial Corp increased its holdings in Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 22.9% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,679 shares of the asset manager’s stock after buying an additional 1,059 shares during the quarter. Mackenzie Financial Corp’s holdings in Affiliated Managers Group were worth $887,000 at the end of the most recent quarter.

Other hedge funds have recently modified their positions in the company. Altshuler Shaham Ltd acquired a new stake in Affiliated Managers Group in the second quarter valued at $28,000. Denali Advisors LLC raised 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 buying an additional 206 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $47,000. Blue Trust Inc. raised its stake in Affiliated Managers Group by 107.8% in the second 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 last quarter. Finally, EMC Capital Management grew its holdings in Affiliated Managers Group by 27.0% in the first quarter. EMC Capital Management now owns 1,190 shares of the asset manager’s stock worth $199,000 after purchasing an additional 253 shares during the period. 95.30% of shares are held by hedge funds and other institutional investors.

Affiliate Manager Group Price Performance

Shares of NYSE:AMG opened at $181.18 on Friday. The company has a fifty day moving average price of $172.36 and a 200 day moving average price of $164.74. The company has a market cap of $5.77 billion, a PE ratio of 10.05, a PEG ratio of 0.56 and a beta of 1.20. Affiliated Managers Group, Inc. has a 1 year low of $120.22 and a 1 year high of $189.81.

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Affiliated Managers Group (NYSE:AMG – Get Your Free Report ) last released its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. The business had revenue of $500.30 million during 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%. Affiliate Managers Group revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $4.45 EPS. On average, sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 22.04 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, August 8. This represents a dividend of $0.04 on an annualized basis and a yield of 0.02%. Affiliate Managers Group’s payout ratio is currently 0.22%.

Insider activity at the affiliate manager group

In other news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. The transaction represented a decrease of 0.00 % in the stock holding. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Rizwan M. Jamal sold 8,622 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, August 16th. The shares were 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 in the company, valued at $22,208,930.73. The transaction represented a decrease of 0.00 % in the stock holding. The sale was disclosed in a legal filing with the SEC, which is available via this link. Also, COO Thomas M. Wojcik sold 4,786 shares of the 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 transaction, the chief operating officer now owns 84,392 shares in the company, valued at approximately $14,575,342.32. This trade represents a 0.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,408 shares of company stock worth $3,865,068. 1.90% of shares are owned by corporate insiders.

Changes in Analyst Ratings

A number of research firms have weighed in on AMG. 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 report on Monday, July 29th. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. 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. Finally, TD Cowen upped their price objective 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, 30 July. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average target price of $199.80, according to MarketBeat.com .

Check out our latest report on AMG

Affiliate Managers Group Company Profile

(Free report)

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual fund, institutional, retail and high net worth individuals in the United States. Provides advisory or sub-advisory services to mutual funds.