Lyrical Asset Management LP Sells 28,248 Shares of Affiliated Managers Group, Inc. $AMG

Lyrical Asset Management LP trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 551,587 shares of the asset manager’s stock after selling 28,248 shares during the period. Affiliated Managers Group comprises approximately 2.2% of Lyrical Asset Management LP’s portfolio, making the stock its 21st largest position. Lyrical Asset Management LP owned about 1.96% of Affiliated Managers Group worth $159,012,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AMG. Leonteq Securities AG bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at about $30,000. Hantz Financial Services Inc. lifted its position in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 93 shares during the last quarter. Highlander Partners L.P. bought a new stake in Affiliated Managers Group in the fourth quarter valued at approximately $68,000. Jones Financial Companies Lllp boosted its stake in shares of Affiliated Managers Group by 51.9% during the third quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock valued at $59,000 after purchasing an additional 84 shares during the period. Finally, Tema Etfs LLC bought a new position in shares of Affiliated Managers Group in the fourth quarter worth approximately $73,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Down 0.0%

Shares of Affiliated Managers Group stock opened at $336.75 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. Affiliated Managers Group, Inc. has a 12-month low of $179.79 and a 12-month high of $338.07. The company has a market cap of $8.89 billion, a P/E ratio of 13.62, a PEG ratio of 0.57 and a beta of 1.13. The company’s fifty day simple moving average is $295.19 and its two-hundred day simple moving average is $294.09.

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

Affiliated Managers Group Dividend Announcement

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

Insider Transactions at Affiliated Managers Group

In related news, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the transaction, the director directly owned 4,369 shares in the company, valued at $1,311,486.42. This trade represents a 18.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G. Staley Cates purchased 1,500 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $305.83 per share, with a total value of $458,745.00. Following the completion of the transaction, the director owned 6,405 shares in the company, valued at $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AMG shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research reissued an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. Finally, TD Cowen restated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.