Gradient Investments LLC Decreases Position in Affiliated Managers Group, Inc. $AMG

Gradient Investments LLC lessened its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 26.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,065 shares of the asset manager’s stock after selling 2,535 shares during the quarter. Gradient Investments LLC’s holdings in Affiliated Managers Group were worth $2,391,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in Affiliated Managers Group by 2.2% during the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock worth $539,000 after purchasing an additional 34 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Affiliated Managers Group by 3.5% in the fourth 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 in the last quarter. AlphaCore Capital LLC grew its stake in Affiliated Managers Group by 3.4% during the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after purchasing an additional 36 shares in the last quarter. Parallel Advisors LLC increased its holdings in Affiliated Managers Group by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after purchasing an additional 42 shares during the period. Finally, Allworth Financial LP raised its position 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 purchasing an additional 45 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Annette Franqui purchased 750 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the acquisition, the director owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. The trade was a 61.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is owned by corporate insiders.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $369.34 on Monday. Affiliated Managers Group, Inc. has a 12 month low of $210.87 and a 12 month high of $392.92. The firm has a market capitalization of $9.76 billion, a P/E ratio of 12.79, a P/E/G ratio of 0.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.79. The company’s fifty day moving average price is $353.04 and its 200 day moving average price is $316.99.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $5.39 earnings per share. As a group, sell-side analysts predict that Affiliated Managers Group, Inc. will post 36.25 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, August 10th. Affiliated Managers Group’s payout ratio is presently 0.14%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Cowen reissued a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Finally, Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $370.86.

Affiliated Managers Group 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.