Los Angeles Capital Management LLC Purchases 41,413 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

11 Nov 2024, 15:11 by Sarita Garza · The Markets Daily

Los Angeles Capital Management LLC lifted its position in Affiliated Managers Group, Inc. (NYSE:AMG – Free Report) by 70.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,072 shares of the asset manager’s stock after acquiring an additional 41,413 shares during the period. Los Angeles Capital Management LLC owned 0.34% of Affiliated Managers Group worth $17,793,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Ariel Investments LLC raised its position in shares of Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after acquiring an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after buying an additional 30,059 shares in the last quarter. LSV Asset Management increased its position in Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after buying an additional 2,000 shares in the last quarter. Raymond James & Associates increased its position in Affiliated Managers Group by 9.6% during the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after buying an additional 20,514 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in Affiliated Managers Group by 6.7% during the 3rd quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock valued at $32,919,000 after buying an additional 11,565 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 1.0 %

Affiliated Managers Group stock opened at $184.95 on Monday. Affiliated Managers Group, Inc. has a 12 month low of $129.57 and a 12 month high of $199.52. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.64 and a beta of 1.18. The stock has a fifty day simple moving average of $181.14 and a two-hundred day simple moving average of $169.29.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same period in the prior year, the business posted $4.08 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 21.53 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 14th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is 0.26%.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at $14,575,342.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the transaction, the chief operating officer now owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock valued at $3,865,068 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AMG has been the subject of a number of analyst reports. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Bank of America lifted their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Barrington Research reduced their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Affiliated Managers Group from $219.00 to $204.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $195.50.

Read Our Latest Report on AMG

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