On September 20, 2023, it was reported that Nordea Investment Management AB has increased its holdings in Affiliated Managers Group, Inc. (NYSE: AMG) by 9.2% during the second quarter, according to their Form 13F filing with the Securities and Exchange Commission (SEC). The fund now owns 65,302 shares of AMG’s stock, acquiring an additional 5,476 shares during this period. At the end of the most recent reporting period, Nordea Investment Management AB’s ownership of Affiliated Managers Group amounted to approximately $9,816,000 or 0.18% of the company’s value.
In addition to these developments, Affiliated Managers Group also recently announced a quarterly dividend which was paid on August 21st. Shareholders who were recorded as investors on August 7th received a dividend of $0.01 per share. With an annualized dividend of $0.04 and a yield of 0.03%, this represents a modest return for investors in Affiliated Managers Group. The ex-dividend date for this distribution was August 4th.
Affiliated Managers Group is a global asset management company specializing in investments across various asset classes including equities, fixed income securities, and alternative investments such as hedge funds and private equity. The company provides investment management services through its network of affiliated managers and offers investment products to institutional clients and individual investors around the world.
Nordea Investment Management AB’s decision to increase its holdings in Affiliated Managers Group reflects their confidence in the company’s prospects and performance. As an asset manager with a diverse range of investment offerings and a strong global presence, Affiliated Managers Group has positioned itself as a leader in the industry.
It is important to note that this analysis is based on information available as of September 20, 2023 and may not reflect any subsequent developments or changes in Nordea Investment Management AB’s or Affiliated Managers Group’s positions. Investors should conduct further research and consult with their financial advisors before making any investment decisions based on this information.
Fluctuating Stake Positions and Positive Analyst Commentary Elevate Interest in Affiliated Managers Group (AMG)
Affiliated Managers Group (AMG), a renowned asset manager company, has seen fluctuations in its stakes by various large investors in recent times. Machina Capital S.A.S. and BOKF NA acquired new positions in the company during the first quarter, with their investments worth $28,000 and $36,000 respectively. On the other hand, Lazard Asset Management LLC increased its stake by 76.3% during the same period, now owning 275 shares valued at $38,000 after purchasing an additional 119 shares. Quarry LP also significantly elevated its stake by 1,193.3%, now holding 388 shares worth $55,000 after acquiring an additional 358 shares. Lastly, Signaturefd LLC witnessed a rise of 23.7% in its stake during the first quarter, currently possessing 481 shares valued at $69,000 after obtaining an additional 92 shares.
It is worth mentioning that a considerable portion of Affiliated Managers Group’s stock is currently owned by institutional investors and hedge funds – around 92.89%. These statistics emphasize the interest these entities have in AMG and demonstrate their confidence in the company’s ability to deliver results.
Industry experts and research analysts have weighed in on AMG’s performance as well. Jefferies Financial Group raised their price target on Affiliated Managers Group from $175.00 to $176.00 in a research note dated July 10th. StockNews.com initiated coverage on AMG with a “buy” rating on August 17th. Conversely, Barrington Research reduced their price objective from $195.00 to $175.00 on July 26th. Currently, one analyst has assigned a hold rating to the stock while six have given it a buy rating according to Bloomberg.com’s consensus opinions. The consensus price target for AMG stands at $180.08.
On September 20th, NYSE-listed AMG opened at $135.02. The company has a market capitalization of $4.73 billion, along with a low P/E ratio of 5.02 and a PEG ratio of 0.78, indicating potential undervaluation in the stock when considering its earnings growth prospects. The beta stands at 1.33, suggesting that AMG’s stock is moderately sensitive to market movements.
Looking at the technical indicators, Affiliated Managers Group’s fifty-day simple moving average is $139.77, while its 200-day simple moving average is $142.07. These figures provide insight into the stock’s performance over different time frames and may be used as reference points for investors.
In terms of financial results, Affiliated Managers Group announced its earnings for the latest quarter on July 26th. The asset manager reported an impressive EPS (earnings per share) of $4.45 for the quarter, surpassing the consensus estimate by $0.22. However, it fell short in terms of revenue with $512.50 million compared to analysts’ expectations of $540.32 million.
Despite this slight revenue miss, Affiliated Managers Group maintains a solid return on equity of 18.93% and a healthy net margin of 53.54%. It is essential to note that the company’s revenue for the quarter was down 15.% compared to the same period last year when they reported earnings per share of $4.03.
As we move forward, equities analysts anticipate Affiliated Managers Group to post an EPS of approximately 17.76 for the current fiscal year based on their projections.
Overall, Affiliated Managers Group has garnered attention from both investors and analysts alike due to its stake fluctuations and recent financial performance results. With various large investors acquiring new positions and research analysts providing positive commentary through buy ratings and raised price targets, there seems to be some optimism surrounding AMG. However, the stock’s current market price remains significantly below its 12-month high of $180.63, possibly presenting an opportunity for those interested in the asset management sector to consider AMG as a prospective investment.