Affiliated Managers Group (NYSE:AMG) Director Sells $1,037,814.12 in Stock
by Renee Jackson · The Cerbat GemAffiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) Director David Christopher Ryan sold 3,402 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the completion of the sale, the director directly owned 1,092 shares of the company’s stock, valued at $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Affiliated Managers Group Stock Performance
Affiliated Managers Group stock traded up $5.03 during midday trading on Friday, hitting $302.79. The stock had a trading volume of 339,903 shares, compared to its average volume of 396,394. The firm’s fifty day moving average is $287.55 and its two-hundred day moving average is $285.63. The company has a market capitalization of $8.04 billion, a PE ratio of 12.25, a P/E/G ratio of 0.53 and a beta of 1.14. Affiliated Managers Group, Inc. has a 52-week low of $172.54 and a 52-week high of $334.78. 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 – Get Free Report) last released its earnings results 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. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 19.92%. The company had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same period in the prior year, the firm posted $5.37 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 34.23 EPS for the current year.
Affiliated Managers Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is presently 0.16%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Leonteq Securities AG purchased a new position in shares of Affiliated Managers Group in the 4th quarter worth approximately $30,000. Root Financial Partners LLC purchased a new position in shares of Affiliated Managers Group in the 3rd quarter worth approximately $33,000. Meeder Asset Management Inc. purchased a new position in shares of Affiliated Managers Group in the 3rd quarter worth approximately $34,000. Hantz Financial Services Inc. grew its position in shares of Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after buying an additional 93 shares during the last quarter. Finally, Millstone Evans Group LLC grew its position in shares of 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. 95.30% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
AMG has been the subject of a number of research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. TD Cowen cut their target price on shares of Affiliated Managers Group to $454.00 and set a “buy” rating for the company in a report on Monday. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $362.29.
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.