Thomas Wojcik Sells 8,000 Shares of Affiliated Managers Group (NYSE:AMG) Stock

Affiliated Managers Group, Inc. (NYSE:AMG) COO Thomas Wojcik sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $286.30, for a total value of $2,290,400.00. Following the completion of the sale, the chief operating officer owned 159,465 shares in the company, valued at $45,654,829.50. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Affiliated Managers Group Stock Down 0.2%

Affiliated Managers Group stock opened at $281.02 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78. The firm has a 50 day moving average price of $309.48 and a two-hundred day moving average price of $271.82. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.46 and a beta of 1.18.

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

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were given a dividend of $0.01 per share. The ex-dividend date of this dividend was 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 is 0.17%.

Institutional Trading of Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Carrera Capital Advisors bought a new position in Affiliated Managers Group during the 3rd quarter valued at $4,295,000. Allianz Asset Management GmbH grew its stake in shares of Affiliated Managers Group by 14.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock worth $93,741,000 after acquiring an additional 50,219 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Affiliated Managers Group by 103.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock valued at $4,792,000 after purchasing an additional 10,200 shares during the last quarter. Oliver Luxxe Assets LLC purchased a new stake in shares of Affiliated Managers Group in the third quarter valued at about $2,673,000. Finally, LSV Asset Management lifted its position in shares of Affiliated Managers Group by 0.7% during the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after purchasing an additional 3,400 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. The Goldman Sachs Group upped their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price target on Affiliated Managers Group and gave the company a “buy” rating in a research note on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.