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Eight Gurus Hold, Three Reduce AMG – A Collective of Investment Talent

August 27, 2013 | About:
Sally Jones

Sally Jones

49 followers
Affiliated Managers Group Inc. (AMG) may become the ultimate guru, the guru that contains many other wise gurus within itself.

Affiliated Managers Group Inc. is a global asset management company that operates through a collective of diverse boutique investment firms and open-architecture funds. Utilizing a cooperative-like approach, AMG has equity investments in a group of select investment management firms. The asset management company offers clients the collective strength based on the expertise, talents and track records of renowned investors like Donald Yacktman and others. AMG’s website currently lists 25 affiliates, including recognized gurus Third Avenue Management LLC, Tweedy, Browne Company LLC, and most recently acquired, Yacktman Asset Management. AMG ensures that affiliates maintain operational autonomy in managing their business.

Read Yacktman’s AMG update here.

Affiliated Managers Group Inc. (AMG)

Up 47% over 12 Months

Founded in 1993, Affiliated Managers Group Inc. has a market cap of $9.21 billion; its shares were traded at around $173.14 with a P/E ratio of 36.50 and a P/B of 4.20.

AMG made its first partnership investment in 1994, and now manages approximately $470 billion in assets across a wide array of investment styles and asset classes to clients around the world. John W. Copeland is president of AMG Wealth Partners.

Tracking share price, revenue and net income since 1997:

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AMG's second-quarter profit more than doubled with increases in new client money, according to Reuters. The company reported its second quarter 2013 results with a net profit of $134.2 million, or $1.18 cents per share, up from $60.9 million, or 12 cents per share, a year ago in the same quarter. AMG earned $2.18 per share while analysts expected $2.10, according to Thomson Reuters I/B/E/S. The company’s total assets under management rose to $469.48 billion as of June 30 from $462.53 billion at the end of the first quarter.

Guru Action in Second Quarter

As of June 30, 2013, eight gurus hold AMG shares. The top billionaire stakeholder of AMG is Chuck Royce with 837,223 shares or 1.59% of shares outstanding, followed by Meridian Funds with 386,000 shares or 0.73 shares outstanding. Five gurus bought or added AMG in the second quarter, while Jim Simons, RS Investment Management and Steven Cohen slashed AMG holdings as of June 30, 2013.

Here’s a look at the AMG trading highlights:

Chuck Royce: As of June 30, 2013, Chuck Royce reduced his position by 15.56%, selling 154,250 shares at an average price of $158.18, for a gain of 10.4%.

He has averaged a gain of 130% on 1,540,822 shares bought at an average price of $75.86 per share. On shares sold, he averaged a gain of 45% on 1985,439 shares sold at an average price of $120.46 per share.

Chuck Royce’s holding history shows five years of double-digit and triple-digit gains:

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Meridian Funds: As of June 30, 2013, Meridian Funds increased its position by 7.82%, buying 28,000 shares at an average price of $158.18, for a gain of 10.4%.

Meridian Funds has averaged a gain of 116% on 307,380 shares bought at an average price of $80.99 per share. On shares sold, the firm averaged a gain of 48% on 221,279 shares sold at an average price of $118.17 per share.

Meridian’s holding history shows another remarkable five years of high gains:

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George Soros: As of June 30, 2013, George Soros increased his position by 334.56%, buying 25,490 shares at an average price of $158.18, for a gain of 10.4%.

He averaged a gain of 19.8% on his first buy in the previous quarter. Soros bought a new holding of 7,619 shares at an average price of $145.82 per share.

Ray Dalio: As of June 30, 2013, Ray Dalio made a new buy of 3,762 shares at an average price of $158.18, for a gain of 10.4%. He had sold out 10,300 shares in the first quarter of 2011 at an average price of $103.99 per share, making a 68% on a long-time holding.

Ray Dalio’s holding history:

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 4.3/5 (3 votes)

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