Insider Selling: Affiliated Managers Group (NYSE:AMG) Director Sells 1,000 Shares of Stock
by Renee Jackson · The Cerbat GemAffiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) Director Rodriguez Felix Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the transaction, the director directly owned 4,369 shares of the company’s stock, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Affiliated Managers Group Price Performance
AMG stock traded up $5.03 during midday trading on Friday, hitting $302.79. 339,903 shares of the stock were exchanged, compared to its average volume of 396,394. The stock’s 50-day moving average price is $287.55 and its 200-day moving average price is $285.63. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.53 and a beta of 1.14. Affiliated Managers Group, Inc. has a fifty-two week low of $172.54 and a fifty-two week high of $334.78. 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 (NYSE:AMG – Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.13. The firm had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a return on equity of 19.92% and a net margin of 35.55%.Affiliated Managers Group’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.37 earnings per share. Research analysts predict that Affiliated Managers Group, Inc. will post 34.23 earnings per share for the current year.
Affiliated Managers Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, May 11th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.16%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on AMG. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday. Finally, TD Cowen cut their price target on Affiliated Managers Group to $454.00 and set a “buy” rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $362.29.
Check Out Our Latest Stock Report on AMG
Hedge Funds Weigh In On Affiliated Managers Group
Several institutional investors have recently added to or reduced their stakes in the business. Boston Partners increased its stake in Affiliated Managers Group by 2.1% in the third quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after purchasing an additional 24,217 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Affiliated Managers Group by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock valued at $198,746,000 after purchasing an additional 18,865 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Affiliated Managers Group by 20.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock valued at $197,641,000 after purchasing an additional 115,313 shares during the last quarter. Geode Capital Management LLC increased its stake in Affiliated Managers Group by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock valued at $158,916,000 after purchasing an additional 41,322 shares during the last quarter. Finally, LSV Asset Management increased its stake in Affiliated Managers Group by 0.7% in 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 during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.
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.