Nordea Investment Management AB Has $11.48 Million Holdings in Affiliated Managers Group, Inc. $AMG

Nordea Investment Management AB reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 39,784 shares of the asset manager’s stock after selling 4,796 shares during the period. Nordea Investment Management AB’s holdings in Affiliated Managers Group were worth $11,484,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new stake in Affiliated Managers Group in the 3rd quarter worth about $33,000. Meeder Asset Management Inc. purchased a new stake in Affiliated Managers Group in the 3rd quarter worth about $34,000. Hantz Financial Services Inc. raised its position in shares of 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 period. Millstone Evans Group LLC raised its holdings in Affiliated Managers Group by 41.9% during the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 52 shares during the period. Finally, AlphaCore Capital LLC bought a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at $49,000. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AMG shares. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the company a “buy” rating in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. The Goldman Sachs Group upped their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average target price of $350.14.

Affiliated Managers Group Stock Up 1.7%

AMG stock opened at $280.37 on Thursday. The company’s 50 day moving average is $303.46 and its 200 day moving average is $275.24. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $334.78.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The business had revenue of $556.60 million during the quarter, compared to analyst estimates of $578.54 million. During the same period in the previous year, the business posted $6.53 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, February 23rd were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, February 23rd. Affiliated Managers Group’s payout ratio is currently 0.17%.

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the sale, the chief operating officer owned 159,465 shares in the company, valued at $45,654,829.50. This trade represents a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $278.24, for a total value of $612,128.00. Following the sale, the general counsel directly owned 42,672 shares of the company’s stock, valued at approximately $11,873,057.28. This trade represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.20% of the company’s stock.

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.