Clarkston Capital Partners LLC Reduces Stock Holdings in Affiliated Managers Group, Inc. $AMG

Clarkston Capital Partners LLC lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 65.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 313,708 shares of the asset manager’s stock after selling 590,411 shares during the period. Affiliated Managers Group makes up approximately 6.6% of Clarkston Capital Partners LLC’s portfolio, making the stock its 3rd biggest holding. Clarkston Capital Partners LLC owned 1.19% of Affiliated Managers Group worth $86,803,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Oak Thistle LLC raised its position in Affiliated Managers Group by 194.1% in the 4th quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after buying an additional 5,742 shares during the last quarter. Altfest L J & Co. Inc. purchased a new position in Affiliated Managers Group during the 4th quarter worth $1,179,000. Fisher Asset Management LLC grew its stake in shares of Affiliated Managers Group by 19.7% in the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock worth $70,291,000 after acquiring an additional 40,107 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Affiliated Managers Group by 20.8% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock worth $7,149,000 after acquiring an additional 4,258 shares in the last quarter. Finally, Chase Investment Counsel Corp purchased a new stake in shares of Affiliated Managers Group in the fourth quarter valued at about $4,962,000. 95.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on AMG shares. The Goldman Sachs Group restated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $362.29.

Insider Buying and Selling

In other Affiliated Managers Group news, Director G. Staley Cates bought 1,500 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the transaction, the director directly owned 6,405 shares of the company’s stock, valued at $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the transaction, the director owned 4,369 shares of the company’s stock, valued at $1,311,486.42. The trade was a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Affiliated Managers Group Trading Up 0.0%

Shares of AMG stock opened at $346.83 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The firm has a market cap of $9.16 billion, a P/E ratio of 14.03, a PEG ratio of 0.53 and a beta of 1.12. The company has a 50 day moving average of $337.97 and a 200-day moving average of $312.61. Affiliated Managers Group, Inc. has a 12-month low of $200.00 and a 12-month high of $382.75.

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

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a dividend of $0.01 per share. 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 dividend payout ratio is presently 0.16%.

Affiliated Managers Group 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.