LGT Capital Partners LTD. Decreases Stake in Affiliated Managers Group, Inc. $AMG

LGT Capital Partners LTD. lowered its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 43.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,730 shares of the asset manager’s stock after selling 4,370 shares during the quarter. LGT Capital Partners LTD.’s holdings in Affiliated Managers Group were worth $1,652,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Leonteq Securities AG purchased a new position in Affiliated Managers Group in the fourth quarter worth approximately $30,000. Hantz Financial Services Inc. lifted its stake 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 worth $34,000 after acquiring an additional 93 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Affiliated Managers Group by 89.9% in the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after acquiring an additional 133 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Affiliated Managers Group by 51.9% in the third quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock worth $59,000 after acquiring an additional 84 shares during the last quarter. Finally, Highlander Partners L.P. purchased a new position in Affiliated Managers Group in the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AMG shares. 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Barrington Research reissued an “outperform” rating and set a $365.00 price objective on shares of Affiliated Managers Group in a report on Monday, April 27th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, TD Cowen reissued a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Seven 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 company has an average rating of “Moderate Buy” and a consensus price target of $362.29.

Insider Transactions at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction on 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 transaction, the chief executive officer directly owned 204,706 shares in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director G. Staley Cates acquired 1,500 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $305.83 per share, for a total transaction 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. The trade was a 30.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 21,902 shares of company stock worth $7,257,719 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $337.07 on Tuesday. The firm’s fifty day moving average price is $296.42 and its 200 day moving average price is $294.70. Affiliated Managers Group, Inc. has a 1-year low of $179.79 and a 1-year high of $345.07. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market cap of $8.90 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth 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 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 period last year, the firm posted $5.37 EPS. Affiliated Managers Group’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 34.71 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

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.