ProShare Advisors LLC Acquires 541 Shares of Affiliated Managers Group, Inc. (NYSE:AMG)

Posted by Defense World Staff on Apr 27th, 2023

ProShare Advisors LLC boosted its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) by 11.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,198 shares of the asset manager’s stock after buying an additional 541 shares during the period. ProShare Advisors LLC’s holdings in Affiliated Managers Group were worth $824,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Lazard Asset Management LLC raised its holdings in shares of Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock worth $38,000 after acquiring an additional 119 shares during the period. IFP Advisors Inc lifted its holdings in shares of Affiliated Managers Group by 56.2% in the third quarter. IFP Advisors Inc now owns 439 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 158 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Affiliated Managers Group by 35.0% in the third quarter. Quadrant Capital Group LLC now owns 494 shares of the asset manager’s stock valued at $55,000 after purchasing an additional 128 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Affiliated Managers Group during the third quarter worth about $58,000. Finally, Ronald Blue Trust Inc. grew its holdings in shares of Affiliated Managers Group by 780.0% during the third quarter. Ronald Blue Trust Inc. now owns 572 shares of the asset manager’s stock worth $66,000 after buying an additional 507 shares in the last quarter. Institutional investors own 95.31% of the company’s stock.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, Director Reuben Jeffery III purchased 3,650 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were acquired at an average cost of $137.21 per share, for a total transaction of $500,816.50. Following the completion of the purchase, the director now owns 31,726 shares of the company’s stock, valued at approximately $4,353,124.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.09% of the company’s stock.

Wall Street Analyst Weigh In

AMG has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on Affiliated Managers Group from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Monday, February 6th. Barrington Research raised their target price on shares of Affiliated Managers Group from $155.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, February 6th. Bank of America boosted their price target on shares of Affiliated Managers Group from $182.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 5th. Finally, StockNews.com initiated coverage on Affiliated Managers Group in a report on Thursday, March 16th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $186.06.

Affiliated Managers Group Price Performance

Shares of AMG opened at $139.11 on Thursday. The firm has a 50-day moving average of $145.88 and a 200-day moving average of $149.96. The company has a market cap of $5.02 billion, a PE ratio of 5.29, a price-to-earnings-growth ratio of 0.72 and a beta of 1.34. Affiliated Managers Group, Inc. has a one year low of $108.12 and a one year high of $180.63.

Affiliated Managers Group (NYSE:AMG – Get Rating) last released its quarterly earnings data on Monday, February 6th. The asset manager reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $7.03 by $0.25. The firm had revenue of $539.60 million during the quarter, compared to analysts’ expectations of $599.42 million. Affiliated Managers Group had a net margin of 49.18% and a return on equity of 21.29%. During the same period in the previous year, the business posted $6.10 earnings per share. Analysts expect that Affiliated Managers Group, Inc. will post 18.98 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, February 15th. Affiliated Managers Group’s dividend payout ratio is currently 0.15%.

About Affiliated Managers Group

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Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.

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Institutional Ownership by Quarter for Affiliated Managers Group (NYSE:AMG)

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