Affiliated Managers Group (NYSE:AMG) CEO Jay Horgen Sells 17,500 Shares

Affiliated Managers Group, Inc. (NYSE:AMG) CEO Jay Horgen sold 17,500 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the transaction, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Affiliated Managers Group Trading Up 0.1%

NYSE AMG opened at $337.07 on Tuesday. The firm has a 50 day simple moving average of $296.42 and a 200-day simple moving average of $294.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. Affiliated Managers Group, Inc. has a one year low of $179.79 and a one year high of $345.07. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.57 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating 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 20.17%. The business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same quarter last year, the firm posted $5.37 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid 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 payout ratio is currently 0.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AMG. Barrington Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Hedge Funds Weigh In On Affiliated Managers Group

A number of institutional investors have recently modified their holdings of the business. Captrust Financial Advisors increased its holdings in shares of Affiliated Managers Group by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after acquiring an additional 34 shares during the period. AlphaCore Capital LLC increased its stake in Affiliated Managers Group by 3.4% in the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after buying an additional 36 shares during the period. Parallel Advisors LLC increased its stake in Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock valued at $281,000 after buying an additional 42 shares during the period. Allworth Financial LP increased its stake in Affiliated Managers Group by 10.3% in the 4th quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock valued at $139,000 after buying an additional 45 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in Affiliated Managers Group by 2.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after buying an additional 46 shares during the period. 95.30% of the stock is 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.