Insider Selling: Affiliated Managers Group (NYSE:AMG) General Counsel Sells 2,200 Shares of Stock

Affiliated Managers Group, Inc. (NYSE:AMG) General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the transaction, the general counsel owned 42,672 shares of the company’s stock, valued at $11,873,057.28. This trade represents a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Affiliated Managers Group Stock Down 1.3%

AMG stock traded down $3.76 during midday trading on Monday, hitting $282.01. The company’s stock had a trading volume of 457,303 shares, compared to its average volume of 430,665. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78. The firm has a market capitalization of $7.52 billion, a P/E ratio of 12.22, a PEG ratio of 0.47 and a beta of 1.18. The firm has a 50-day simple moving average of $309.85 and a 200-day simple moving average of $270.97.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.53 earnings per share. As a group, equities analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, February 23rd will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.17%.

Hedge Funds Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in Affiliated Managers Group by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after purchasing an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock valued at $23,815,000 after buying an additional 6,262 shares during the last quarter. Jane Street Group LLC acquired a new stake in Affiliated Managers Group during the 1st quarter worth $1,947,000. Envestnet Asset Management Inc. raised its stake in Affiliated Managers Group by 9.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 58,721 shares of the asset manager’s stock worth $11,554,000 after acquiring an additional 4,994 shares in the last quarter. Finally, Huntington National Bank lifted its position in Affiliated Managers Group by 129.2% in the second quarter. Huntington National Bank now owns 541 shares of the asset manager’s stock valued at $106,000 after acquiring an additional 305 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft set a $408.00 target price on shares of Affiliated Managers Group and gave the stock a “buy” rating in a research note on Friday, February 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Wall Street Zen raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.