LGT Capital Partners LTD. Decreases Stake in Affiliated Managers Group, Inc. $AMG

LGT Capital Partners LTD. reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 43.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,730 shares of the asset manager’s stock after selling 4,370 shares during the period. LGT Capital Partners LTD.’s holdings in Affiliated Managers Group were worth $1,652,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in AMG. Leonteq Securities AG purchased a new stake in shares of Affiliated Managers Group during the 4th quarter worth $30,000. Hantz Financial Services Inc. boosted its position in shares of Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after purchasing an additional 93 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Affiliated Managers Group by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after purchasing an additional 133 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Affiliated Managers Group by 51.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock worth $59,000 after purchasing an additional 84 shares in the last quarter. Finally, Highlander Partners L.P. purchased a new stake in shares of Affiliated Managers Group during the 4th quarter worth $68,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on AMG. TD Cowen restated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Barrington Research reiterated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. The Goldman Sachs Group restated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $337.07 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock has a market cap of $8.90 billion, a P/E ratio of 13.64, a PEG ratio of 0.57 and a beta of 1.13. The company has a 50-day moving average of $296.42 and a two-hundred day moving average of $294.70. Affiliated Managers Group, Inc. has a 12-month low of $179.79 and a 12-month high of $345.07.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The company had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.37 earnings per share. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is 0.16%.

Insider Buying and Selling

In other Affiliated Managers Group news, Director Rodriguez Felix V. Matos sold 1,000 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the transaction, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David Christopher Ryan sold 3,402 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the completion of the transaction, the director owned 1,092 shares in the company, valued at approximately $333,125.52. This trade represents a 75.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,902 shares of company stock worth $7,257,719 in the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

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.