Affiliated Managers Group, Inc. $AMG Stake Lessened by Goodman Financial Corp

Goodman Financial Corp reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,474 shares of the asset manager’s stock after selling 12,787 shares during the period. Affiliated Managers Group accounts for 3.7% of Goodman Financial Corp’s portfolio, making the stock its 7th largest position. Goodman Financial Corp owned approximately 0.24% of Affiliated Managers Group worth $19,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of Affiliated Managers Group by 1.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after acquiring an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Affiliated Managers Group by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock valued at $23,815,000 after purchasing an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Affiliated Managers Group during the first quarter valued at approximately $1,947,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Affiliated Managers Group by 4.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,304 shares of the asset manager’s stock worth $1,437,000 after purchasing an additional 310 shares during the period. Finally, SG Americas Securities LLC grew its stake in Affiliated Managers Group by 84.0% in the second quarter. SG Americas Securities LLC now owns 3,086 shares of the asset manager’s stock worth $607,000 after purchasing an additional 1,409 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the stock a “buy” rating in a research note on Friday, February 13th. Seven investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $350.14.

Insider Activity

In other news, General Counsel Kavita Padiyar sold 2,200 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $278.24, for a total value of $612,128.00. Following the transaction, the general counsel owned 42,672 shares in the company, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Thomas M. Wojcik sold 8,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the sale, the chief operating officer owned 159,465 shares in the company, valued at approximately $45,654,829.50. The trade was a 4.78% decrease in their position. The SEC filing for this sale provides additional information. 4.20% of the stock is currently owned by insiders.

Affiliated Managers Group Trading Down 0.1%

NYSE AMG opened at $278.47 on Monday. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $334.78. The stock has a market cap of $7.43 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.46 and a beta of 1.18. The stock’s fifty day moving average price is $305.58 and its 200-day moving average price is $274.58. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64.

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

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.17%.

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.