The intricate world of asset management witnessed a notable surge recently when LGT Capital Partners LTD, a widely reputed wealth management firm, announced that it has bolstered its position in the shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 34.2% during the first quarter – as per the company’s most recent disclosure with the Securities & Exchange Commission. The development created ripples in the industry and is expected to have far-reaching repercussions for both companies involved.
LGT Capital Partners LTD purchased an additional 81,890 shares during the period and now owns 321,205 shares of the asset manager’s stock. AMG accounts for approximately 1.3% of LGT Capital Partners’ portfolio and ranks as its 27th biggest holding; by extension, LGT Capital Partners LTD owned about 0.90% of Affiliated Managers Group worth $45,746,000 at the end of the most recent quarter.
This announcement followed Affiliated Managers Group’s earnings results release on May 1st when it reported earnings per share at $4.18 for Q1 – outperforming consensus estimates by $0.03. Compared to last year’s performance over the same period, this result indicates a slump of 14.8% in revenue but still managed to hold steadfast due to a return on equity rate as high as19.63%, along with favorable net margins around 50%. Predictions claim that Affiliated Managers Group will post earnings per share at an impressive rate of $18.91 for this year.
Founded back in December 1993 in West Palm Beach, FL., Affiliated Managers Group engages mainly in providing asset management through equity investments.
These developments are bound to capture attention from analysts globally who will work towards deciphering future projections whilst grappling with ongoing industry transformations amidst global trade uncertainties and challenges brought forth by technology disruptions affecting how assets are managed across borders; making it an exciting space to be watchful of in the days ahead.
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AMG Sees Changes in Institutional Investor Holdings and Declares Quarterly Dividend
Affiliated Managers Group Inc. (AMG), a West Palm Beach-based asset management company, has recently seen both reductions and additions in its shares by institutional investors. The latest holdings reveal that Pathstone Family Office LLC has raised its interest by 0.7% in the final quarter of 2020, owning now $1.7 million dollars worth of shares or 10,729 shares in total. Legacy Wealth Asset Management LLC increased its stake by 2.4% in the final quarter as well, totaling $539,000 worth of shares or 3,404 units owned. On the other hand, Diversified Trust Co increased their position by 1.7%, owning $1.01 million worth or 6,317 total shares while Mariner LLC purchased an additional 103 shares which brings them to a total of $343k owned. Parallel Advisors LLC made the most prominent increase with a jump of over 62%, reaching an ownership of 219 units with a value of $35k.
Due to the above information being released to institutional investors and hedge funds resulting primary stakeholders owning around nearly 97% of AMG’s stockholder value were aware that on May 25th, the business declared a quarterly dividend where they would pay out shareholders at an annualized rate of $0.04 per share held.
The retail market saw activity on this front too, as NYSE:AMG trading figures came up showing statistics for Friday 29th April where AMG traded down to $142.93 within high volume trading rounds – compared to their average volume clocking in at about two hundred thousand rounds.
This month StockNews.com started covering Affiliated Manager Groups and noted it was holding out a “buy” rating for AMG – this leaning favourably after Bank of America raised their price target from $182 to $192 bringing AMGs’ average price target up from around $180.93.
The company was established by its founders to engage purposefully in equity asset management and has grown extensively ever since – with varying reviews from industry experts noting the volatility of such large companies, along with their market cap currently around a staggering $5.16 billion dollars, yet amidst all this, the dividend yield remains low but present, sitting at 0.03%. AMG has spent much time engineering their business model to account for fluctuations in value that may happen within the economy and it appears some institutional shareholders are confident enough in its future growth prospects to acquire additional shares.