Crow Point Partners LLC Sells 522 Shares of Affiliated Managers Group, Inc. (AMG)
Crow Point Partners LLC lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 51.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 491 shares of the asset manager’s stock after selling 522 shares during the period. Crow Point Partners LLC’s holdings in Affiliated Managers Group were worth $101,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Tributary Capital Management LLC bought a new position in Affiliated Managers Group during the 3rd quarter worth $100,000. Advisor Group Inc. increased its stake in 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 acquiring an additional 228 shares during the period. First Citizens Bank & Trust Co. bought a new position in shares of Affiliated Managers Group in the 4th quarter valued at $214,000. Douglas Lane & Associates LLC bought a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $200,000. Finally, Conning Inc. bought a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.
Several brokerages have recently issued reports on AMG. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $225.00 price target on the stock in a research note on Tuesday. Goldman Sachs Group lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price target on the stock. in a research note on Tuesday. Credit Suisse Group lowered Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price target on the stock. in a research note on Wednesday, January 3rd. Jefferies Group reiterated a “buy” rating and issued a $226.00 price target on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $229.00 price target on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $211.63.
In related news, Director Dwight D. Churchill sold 2,080 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $184.28, for a total transaction of $383,302.40. Following the sale, the director now owns 6,104 shares in the company, valued at approximately $1,124,845.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter W. Macewen sold 10,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total value of $1,976,700.00. Following the sale, the insider now owns 37,682 shares in the company, valued at approximately $7,448,600.94. The disclosure for this sale can be found here. Insiders have sold a total of 89,585 shares of company stock worth $16,734,012 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
Shares of Affiliated Managers Group, Inc. (NYSE AMG) opened at $198.38 on Thursday. The firm has a market capitalization of $11,030.00, a price-to-earnings ratio of 21.47, a P/E/G ratio of 0.82 and a beta of 1.71. Affiliated Managers Group, Inc. has a 52-week low of $139.52 and a 52-week high of $207.67. 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 (NYSE:AMG) last issued its quarterly earnings data on Monday, October 30th. The asset manager reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.36 by $0.05. The business had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. Affiliated Managers Group’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.02 EPS. analysts forecast that Affiliated Managers Group, Inc. will post 14.47 earnings per share for the current fiscal year.
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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