Reinhart Partners LLC. Sells 20,287 Shares of Affiliated Managers Group, Inc. $AMG

Reinhart Partners LLC. reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 41.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,283 shares of the asset manager’s stock after selling 20,287 shares during the period. Reinhart Partners LLC. owned 0.10% of Affiliated Managers Group worth $8,154,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Leonteq Securities AG bought a new position in Affiliated Managers Group during the 4th quarter worth $30,000. Hantz Financial Services Inc. raised its position in Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after purchasing an additional 93 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after acquiring an additional 133 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Affiliated Managers Group by 51.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock worth $59,000 after acquiring an additional 84 shares in the last quarter. Finally, Highlander Partners L.P. bought a new position in shares of Affiliated Managers Group in the 4th quarter worth about $68,000. 95.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Kavita Padiyar sold 2,200 shares of the business’s 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 completion of the sale, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. The trade was a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the sale, the director directly owned 4,369 shares of the company’s stock, valued at $1,311,486.42. The trade was a 18.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,602 shares of company stock worth $4,240,522 over the last three months. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

AMG has been the subject of several research analyst reports. TD Cowen reissued a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Barrington Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research report on Monday, April 27th. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $311.13 on Wednesday. Affiliated Managers Group, Inc. has a one year low of $178.17 and a one year high of $334.78. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.51 and a beta of 1.13. The business has a 50-day simple moving average of $291.49 and a 200 day simple moving average of $292.24. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same period in the previous year, the company posted $5.37 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced 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 of this dividend was Monday, May 11th. Affiliated Managers Group’s payout ratio is presently 0.16%.

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.