Peter W. Macewen Sells 10,000 Shares of Affiliated Managers Group, Inc. (AMG) Stock
Affiliated Managers Group, Inc. (NYSE:AMG) insider Peter W. Macewen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the transaction, the insider now owns 37,682 shares of the company’s stock, valued at $7,448,600.94. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Affiliated Managers Group, Inc. (NYSE AMG) opened at $200.43 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. Affiliated Managers Group, Inc. has a twelve month low of $139.52 and a twelve month high of $202.09. The firm has a market cap of $11,016.89, a PE ratio of 14.41, a price-to-earnings-growth ratio of 0.93 and a beta of 1.71.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The firm had revenue of $585.70 million during the quarter, compared to the consensus estimate of $586.55 million. During the same period last year, the firm posted $3.02 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. equities research analysts anticipate that Affiliated Managers Group, Inc. will post 14.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Thursday, November 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Affiliated Managers Group’s dividend payout ratio is currently 8.66%.
Institutional investors have recently added to or reduced their stakes in the business. Tributary Capital Management LLC acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter worth about $100,000. Creative Planning boosted its stake in shares of Affiliated Managers Group by 15.0% during the 2nd quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after purchasing an additional 92 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after purchasing an additional 228 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after purchasing an additional 16 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in shares of Affiliated Managers Group by 78.5% during the 2nd quarter. Global X Management Co. LLC now owns 980 shares of the asset manager’s stock worth $163,000 after purchasing an additional 431 shares during the last quarter. 95.78% of the stock is currently owned by institutional investors.
Several research firms have weighed in on AMG. Jefferies Group restated a “buy” rating and set a $226.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $229.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Barrington Research restated an “outperform” rating and set a $215.00 target price on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their target price on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, August 11th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $207.25.
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Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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