Affiliated Managers Group (NYSE:AMG) Shares Down 6.1% – What’s Next?

Affiliated Managers Group, Inc. (NYSE:AMG) fell 6.1% during mid-day trading on Thursday . The company traded as low as $261.50 and last traded at $256.6930. 30,506 shares traded hands during trading, a decline of 92% from the average session volume of 406,080 shares. The stock had previously closed at $273.50.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. The Goldman Sachs Group boosted their price target on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. 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, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Trading Up 0.1%

The firm’s 50 day moving average price is $296.04 and its 200-day moving average price is $276.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $7.09 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.44 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $578.54 million. During the same quarter last year, the firm earned $6.53 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.17%.

Insider Buying and Selling at Affiliated Managers Group

In related news, General Counsel Kavita Padiyar sold 2,200 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the sale, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. This trade represents a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction dated Friday, March 6th. The stock was 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 of the company’s stock, valued at $45,654,829.50. The trade was a 4.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by insiders.

Institutional Trading of Affiliated Managers Group

A number of institutional investors have recently made changes to their positions in AMG. Rockefeller Capital Management L.P. raised its holdings in shares of Affiliated Managers Group by 4.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 3,311 shares of the asset manager’s stock valued at $955,000 after purchasing an additional 135 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Affiliated Managers Group by 46.7% in the fourth quarter. Corient Private Wealth LLC now owns 13,468 shares of the asset manager’s stock worth $3,883,000 after purchasing an additional 4,288 shares during the last quarter. Hsbc Holdings PLC grew its position in Affiliated Managers Group by 643.9% in the 4th quarter. Hsbc Holdings PLC now owns 10,935 shares of the asset manager’s stock worth $3,158,000 after purchasing an additional 9,465 shares during the period. AG Campbell Advisory LLC bought a new stake in Affiliated Managers Group in the 4th quarter worth approximately $239,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Affiliated Managers Group during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

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.