Affiliated Managers Group, Inc. (AMG) CEO Sean M. Healey Sells 69,800 Shares
Affiliated Managers Group, Inc. (NYSE:AMG) CEO Sean M. Healey sold 69,800 shares of Affiliated Managers Group stock in a transaction on Friday, November 17th. The shares were sold at an average price of $185.48, for a total value of $12,946,504.00. Following the transaction, the chief executive officer now owns 194,943 shares of the company’s stock, valued at approximately $36,158,027.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Affiliated Managers Group, Inc. (NYSE:AMG) opened at $186.68 on Tuesday. The company has a market capitalization of $10,340.00, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 0.88 and a beta of 1.70. Affiliated Managers Group, Inc. has a fifty-two week low of $139.52 and a fifty-two week high of $198.40. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24.
Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 30th. The asset manager reported $3.41 EPS for the quarter, topping the Zacks’ consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The business had revenue of $585.70 million during the quarter, compared to analyst estimates of $586.55 million. During the same quarter last year, the company earned $3.02 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. sell-side analysts expect that Affiliated Managers Group, Inc. will post 14.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Thursday, November 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Wednesday, November 8th. Affiliated Managers Group’s payout ratio is currently 8.66%.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Tributary Capital Management LLC bought a new stake in shares of Affiliated Managers Group in the third quarter worth $100,000. Creative Planning grew its holdings in shares of Affiliated Managers Group by 15.0% in the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after acquiring an additional 92 shares during the period. Advisor Group Inc. grew its holdings in shares of Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after acquiring an additional 228 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Affiliated Managers Group by 2.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after acquiring an additional 16 shares during the period. Finally, Financial Architects Inc grew its holdings in shares of Affiliated Managers Group by 2.1% in the second quarter. Financial Architects Inc now owns 833 shares of the asset manager’s stock worth $138,000 after acquiring an additional 17 shares during the period. 97.43% of the stock is owned by institutional investors.
A number of research analysts have issued reports on AMG shares. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $229.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Credit Suisse Group lifted their target price on Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. Jefferies Group LLC reissued a “buy” rating and issued a $200.00 target price on shares of Affiliated Managers Group in a report on Friday, August 18th. Finally, Barrington Research reissued an “outperform” rating and issued 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $207.25.
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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