Corporate insiders are moving decisively towards defensive plays, and that should tell the rest of us something important. The immediate reason is obvious, of course: Thursday saw a 9% drop on Wall Street, as all three major indexes – S&P 500, Dow Jones, and NASDAQ – collapsed on coronavirus fears. It was the worst market collapse since 1987. The spreading epidemic has been officially raised to pandemic status, and doubts are growing about early assumptions about the disease’s lethality and communicability; officials are worried that COVID-19 is more easily transmitted, and more lethal, than previously thought.The bigger issue, however, is economic. Quarantines and travel restrictions set in place to fight the spread of the disease are shutting down large sectors of the global economy, especially in tourism, hospitality, shipping and trucking – the list is long. While we aren’t dealing with ‘The Stand’s’ Captain Trips yet, we are facing a serious situation. And if you’re relying on stocks in your investments, you’re bound to be worried.Insiders – the corporate officers who are responsible to shareholders – have been using recent low prices to snap up shares in their own companies. These are informative buys, in the jargon – stock buys from people in a position to know how a company will likely perform when the current dip turns around. Large buys by company officers are a frequently a sign of confidence.The TipRanks Insider’s Hot Stocks tool opens a window onto recent trades – both buy and sell – by corporate insiders. It’s an invaluable look at how ‘those in the know’ are reacting to market conditionsOneok, Inc. (OKE)We’ll start in the energy industry, which has been particularly hard-hit. Oil prices have fallen from the $55 to $60 range down below $35 per barrel, on a combination of lowered demand, a supply glut, and a Russia-Saudi price war. The immediate losers are the drilling and midstream companies, who have seen profits drop along with the price per barrel. Oneok is one such midstream company. OKE focuses on natural gas, with processing plants, storage facilities, and pipelines in the Permian, Mid-Continent, and Rocky Mountain regions – some of North America’s richest gas production fields.As for the insiders, both the CEO and the Chairman of the Board at OKE are stocking up on shares. Terry Spencer, the CEO, purchased over $997,000 worth of company stock this week, while John William Gibson, the Chairman, bought 12,700 shares for $497,000. Both buys are large enough to be considered informative, and they skew the insider sentiment on this stock into positive territory.OKE maintains a generous dividend payment, which it raised this year to 93.5 cents per share quarterly. The annualized payment, $3.74, gives a sky-high yield of 13% at current share prices. This is more than 6x the average yield among S&P listed companies, and whopping 13 times the yield of US Treasury bonds. It’s a strong return, and a real incentive to investment.Argus researcher Bill Selesky sees plenty of reason for optimism in OKE shares. He writes, “The company continues to restructure legacy contracts and is working to generate new business under a fee-based system. As a result, its earnings have become less vulnerable to changes in volume and pricing. ONEOK also pays a solid dividend … [which] is more than covered by cash flow.”Selesky’s Buy rating on OKE is supported by an $82 price target, suggesting an impressive upside of 188%. (To watch Selesky’s track record, click here)Tristan Richardson, of SunTrust Robinson, also take a bullish posture toward Oneok, with an $80 price target that implies an upside of 181%.In his comments on the stock, Richardson states, “…the growth outlook offered by OKE we think stands out in midstream and energy broadly… we think over the near term OKE shares relatively outperform on an IG name with an execution track record in a infrastructure constrained environment, even in face of macro energy risks.” (To watch Richardson’s track record, click here)Overall, Oneok gets a Moderate Buy rating from the analyst consensus, based 10 Buys, 3 Holds and single Sell ratings issued in the past 3 months. Shares are priced at $17.57, and the average price target, $72.25, indicates room for a 154% growth potential. (See Oneok stock analysis on TipRanks)Aramark Holdings (ARMK)Aramark is well-known in the food service, facility, and uniform business – an important niche providing necessary services to a wide range of clients. Aramark’s services can be found in the education, healthcare, leisure, and prison industries, and the Philadelphia-based company operates in 20 countries around the world, including Ireland, the UK, Germany, Spain, Philippines, South Korea, and Chile.Aramark’s CEO and COO, John Zillmer and Bruno Marc both made large purchases of company stock this week. Marc picked up 23,400 shares, paying over $497,000, while Zillmer increased his holding by 40,000 shares in a $1 million purchase. The total informative purchases by company execs in the past three months is $1.63 million – a clear vote of confidence in ARMK.The company uses its solid financial footing in part to keep up a reliable dividend. The yield is a modest 1.8%, with an annualized payment of 44 cents per share. Aramark has a 6-year history of gradual dividend increases, and the 17% payout ratio indicates that the company can easily afford to keep up the payments.Credit Suisse analyst Kevin Mcveigh sees ARMK in a strong position for future growth. He writes, “Our Blue Sky scenario is predicated on ARMK seeing faster top line growth, toward the higher end of its LT targets, and seeing faster synergy capture, which would drive 2021E EBITDA ~10% above our current 2021E EBITDA. We assume that the multiple expands to ~12x to account for faster growth and margin expansion.”Mcveigh gives ARMK a $57 price target, supporting his Buy rating and implying a 134% upside potential. (To watch Mcveigh’s track record, click here)Covering the stock for Oppenheimer, Ian Zaffino sets a $50 price target, indicating a possible 105% upside, along with his Buy rating. He believes that ARMK has the resources to withstand COVID-19’s impact.Zaffino writes in his comments on the stock, “[Company] strategy is to create a more customer centric and salesforce-driven model to improve retention and accelerate new business wins. Separately, while a prolonged Coronavirus outbreak would hit revenues, the company’s flexible cost model should help protect short-term margins.” (To watch Zaffino’s track record, click here)The Moderate Buy analyst consensus rating on ARMK shares is based on 4 Buys and 2 Holds, along with a single Sell. The average price target of $47.50 suggests a robust upside potential of 101% from the current share price of $23.61. (See Aramark stock analysis on TipRanks)Affiliated Managers Group (AMG)This investment management company holds stakes in a variety of boutique assets, including hedge funds and private equity firms. AMG’s services include assistance in strategic matters such as distribution, marketing, product development, and general operations.CEO Jay Horgen purchased $531,000 worth of AMG shares yesterday, giving the stock a strongly positive insider signal. Horgen now holds over $8.2 million worth of company stock.Strong earnings allow AMG to keep up its regular quarterly dividend of 32 cents. At $1.28 annualized, the yield is 2.5%, somewhat better than average in the markets. The company has raised the dividend twice in the past three years, and with a payout ratio of just 7% investors need not worry about sustainability.Barrington analyst Alexander Paris sees a clear path forward for AMG writing of the company, “As we approach a return to organic growth and management demonstrates it can close on additional accretive investments in new affiliates, like Garda, we believe the stock will move higher. Management said that, while the timing of individual new investments is inherently uncertain, it expects to generate incremental earnings from accretive investments in 2020.”Paris’ Buy rating is accompanied by a 12-month price target of $100, suggesting an upside here of 85%. (To watch Paris’ track record, click here)AMG has a cautiously optimistic Moderate Buy consensus rating from the Street. This breaks down into 2 "buy" and 3 "hold" ratings in the last three months. We can also see from TipRanks that the average analyst price target is $88.63 - 60% upside from the current share price. (See AMG stock analysis at TipRanks)
Affiliated Managers Group, Inc. (AMG), a global asset management company, announced it has entered into a strategic partnership with iCapital Network (“iCapital”), a leading financial technology platform providing innovative solutions for advisors and their clients, asset managers, and banks to access and offer strategies in the alternative investing marketplace. As part of the strategic partnership, AMG made a modest investment in iCapital.
Affiliated Managers (AMG) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Affiliated Managers Group, Inc. (AMG), a global asset management company, today announced with sadness the passing of Sean M. Healey, Executive Chairman from 2018 through 2020, and Chief Executive Officer from 2005 to 2018. Mr. Healey joined the Company in 1995 as a founding principal, and passed away following a battle with amyotrophic lateral sclerosis (ALS). “Sean transformed AMG from a nascent start-up into a leading global asset manager with an innovative partnership approach and unmatched track record of partnerships, providing solutions for independent, partner-owned investment firms from growth capital, to strategic support initiatives such as marketing and distribution, to succession planning – all while preserving their entrepreneurial spirit and culture.”
Affiliated Managers (AMG) delivered earnings and revenue surprises of 0.64% and 4.89%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Q1 2020 Affiliated Managers Group Inc Earnings Call
Decline in expenses supports Affiliated Managers Group's (AMG) Q1 earnings amid decrease in revenues and lower assets balance.
Will the new coronavirus cause a recession in US in the next 6 months? On February 27th, we put the probability at 75% and we predicted that the market will decline by at least 20% in (Recession is Imminent: We Need A Travel Ban NOW). In these volatile markets we scrutinize hedge fund filings to […]
Affiliated Managers Group, Inc. (NYSE:AMG), a global asset management company, today announced the appointment of Patrick T. Ryan as Co-Chairman of the Board of Directors. Sean M. Healey, Executive Chairman, who was diagnosed with amyotrophic lateral sclerosis, or ALS, in 2018, will become Executive Co-Chairman, effective immediately.
Victory Capital's (VCTR) Q1 results reflect higher assets under management and rise in revenues, partially offset by elevated costs.
NEW YORK, NY / ACCESSWIRE / April 27, 2020 / Affiliated Managers Group, Inc. (NYSE:AMG) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on April 27, 2020 ...
Continue to address the impact of the COVID-19 pandemic on AMG's Affiliates, business, employees, and surrounding communities — including supporting the relief efforts of local.
Spanish guru’s top buys include holding company of Yacktman Funds Continue reading...
Affiliated Managers Group, Inc. (AMG), a global asset management company, today announced the appointment of Reuben Jeffery to its Board of Directors, effective immediately. Reuben Jeffery III served as President and Chief Executive Officer and member of the board of Rockefeller & Co. and Rockefeller Financial Services, Inc. from 2010 to 2018.
Companies In The News Are: CNX, CHKP, CMS, AMG.
Shares of Affiliated Managers Group (NYSE:AMG) were unchanged in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share were down 3.07% year over year to $3.16, which beat the estimate of $3.08.Revenue of $507,300,000 lower by 6.59% from the same period last year, which beat the estimate of $496,340,000.Looking Ahead Affiliated Managers Group hasn't issued any earnings guidance for the time being.View more earnings on AMGRevenue guidance hasn't been issued by the company for now.Price Action 52-week high: $114.32Company's 52-week low was at $44.37Price action over last quarter: down 26.54%Company Profile Affiliated Managers Group offers investment strategies to investors through its network of affiliates. The firm typically buys a majority interest in small to midsize boutique asset managers, receiving a fixed percentage of revenue from these firms in return. Affiliates operate independently, with AMG providing strategic, operational, and technology support, as well as global distribution. At the end of 2019, AMG's affiliate network--which includes firms like AQR Capital Management, BPEA and Pantheon in alternative assets and other products (which accounted for 33% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global equities (38%) and Frontier, River Road, and Yacktman in U.S. equities (14%)--had $722.5 billion in managed assets.See more from Benzinga * 6 Financial Services Stocks Moving In Monday's Pre-Market Session * Recap: Lincoln Electric Q1 Earnings * 12 Technology Stocks Moving In Monday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Affiliated Managers' (AMG) first-quarter 2020 performance is expected to have been hurt by a decline in assets.
WEST PALM BEACH, Fla., April 06, 2020 -- Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, today announced a donation of $1 million in support of.
As investors grapple with challenging decisions in the face of uncertainty, record market volatility has created a favorable environment for independent active boutique managers to generate alpha. Defined by their investment independence, operational autonomy, entrepreneurial cultures, and specialized investment processes, independent boutiques outperformed both passive indexing and non-boutique active managers in periods of elevated volatility over the past 20 years, according to a new study released by global asset management company Affiliated Managers Group, Inc. (AMG).
Conference Call Scheduled for 8:30 a.m. Eastern Time WEST PALM BEACH, Fla., April 13, 2020 -- Affiliated Managers Group, Inc. (NYSE: AMG) will report financial and operating.