Affiliated Managers Group, Inc. $AMG Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 4.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,165 shares of the asset manager’s stock after selling 2,133 shares during the period. Legal & General Group Plc’s holdings in Affiliated Managers Group were worth $12,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in AMG. Goldman Sachs Group Inc. raised its stake in 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 valued at $19,047,000 after acquiring an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake 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 about $1,947,000. American Century Companies Inc. lifted its holdings in Affiliated Managers Group by 1.2% in the second quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock worth $1,683,000 after purchasing an additional 104 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after buying an additional 133 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMG. Barrington Research reissued an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a report on Monday, April 27th. 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, May 4th. TD Cowen restated a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $311.13 on Wednesday. Affiliated Managers Group, Inc. has a 52 week low of $178.17 and a 52 week high of $334.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market capitalization of $8.22 billion, a PE ratio of 12.59, a PEG ratio of 0.51 and a beta of 1.13. The company’s 50 day moving average price is $291.49 and its 200 day moving average price is $292.24.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The firm had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.37 earnings per share. Research analysts expect that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the transaction, the director owned 4,369 shares in the company, valued at $1,311,486.42. This trade represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the completion of the transaction, the director directly owned 1,092 shares in the company, valued at approximately $333,125.52. This represents a 75.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,602 shares of company stock worth $4,240,522 in the last 90 days. Company insiders own 2.90% 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.