Kestra Advisory Services LLC Sells 1,977 Shares of Affiliated Managers Group, Inc. $AMG

Kestra Advisory Services LLC lessened its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 13.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,810 shares of the asset manager’s stock after selling 1,977 shares during the period. Kestra Advisory Services LLC’s holdings in Affiliated Managers Group were worth $3,544,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position 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 buying an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Affiliated Managers Group by 4.6% during 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 worth $23,815,000 after buying an additional 6,262 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Affiliated Managers Group in the 1st quarter valued at approximately $1,947,000. American Century Companies Inc. boosted its position in Affiliated Managers Group by 1.2% in the second quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after buying an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 133 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on AMG. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. The Goldman Sachs Group restated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Barrington Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $369.96 on Friday. The stock has a fifty day simple moving average of $334.13 and a two-hundred day simple moving average of $310.75. Affiliated Managers Group, Inc. has a 1-year low of $200.00 and a 1-year high of $382.75. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. The business had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $5.37 EPS. Analysts anticipate that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Insider Buying and Selling at Affiliated Managers Group

In related news, Director Annette Franqui purchased 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the transaction, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. This represents a 61.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Christopher Ryan sold 3,402 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the sale, the director directly owned 1,092 shares in the company, valued at $333,125.52. This trade represents a 75.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is 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.