Affiliated Managers Group, Inc. $AMG Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 35.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,017,113 shares of the asset manager’s stock after selling 552,213 shares during the period. Millennium Management LLC owned about 3.62% of Affiliated Managers Group worth $242,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMG. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 107 shares during the period. Root Financial Partners LLC acquired a new position in shares of Affiliated Managers Group during the 3rd quarter worth about $33,000. Meeder Asset Management Inc. purchased a new position in Affiliated Managers Group in the 3rd quarter valued at about $34,000. Hantz Financial Services Inc. lifted its stake in Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after buying an additional 93 shares in the last quarter. Finally, Millstone Evans Group LLC boosted its holdings in Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after buying an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AMG. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Wall Street Zen upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price objective on Affiliated Managers Group and gave the company a “buy” rating in a report 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $350.14.

Affiliated Managers Group Stock Up 0.3%

AMG stock opened at $272.78 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $308.02 and a two-hundred day moving average of $273.16. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $334.78. The company has a market cap of $7.28 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.46 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping the consensus estimate of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.53 EPS. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were given a dividend of $0.01 per share. The ex-dividend date 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 (DPR) is presently 0.17%.

Insiders Place Their Bets

In other news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction on Friday, March 6th. The stock was sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the company’s stock in a transaction dated 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 sale, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. This represents a 4.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.20% of the company’s stock.

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.