Affiliated Managers Group, Inc. $AMG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 44.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,727 shares of the asset manager’s stock after selling 4,587 shares during the quarter. Intech Investment Management LLC’s holdings in Affiliated Managers Group were worth $1,651,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ boosted its stake in Affiliated Managers Group by 103.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock valued at $4,792,000 after purchasing an additional 10,200 shares in the last quarter. Altfest L J & Co. Inc. acquired a new position in shares of Affiliated Managers Group during the 4th quarter valued at $1,179,000. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in shares of Affiliated Managers Group during the 3rd quarter valued at $5,357,000. Oak Thistle LLC increased its position in shares of Affiliated Managers Group by 194.1% during the 4th quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after purchasing an additional 5,742 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Affiliated Managers Group by 0.7% in the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after buying an additional 3,400 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 7.3%

Shares of AMG stock opened at $334.50 on Friday. The stock has a 50-day simple moving average of $294.06 and a 200 day simple moving average of $293.49. Affiliated Managers Group, Inc. has a fifty-two week low of $179.04 and a fifty-two week high of $336.76. The stock has a market capitalization of $8.83 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.53 and a beta of 1.13. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $544.01 million. During the same quarter last year, the business posted $5.37 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a $0.01 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.16%.

Insiders Place Their Bets

In related news, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the transaction, the director owned 4,369 shares in the company, valued at $1,311,486.42. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Kavita Padiyar sold 2,200 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $278.24, for a total value of $612,128.00. Following the completion of the transaction, the general counsel owned 42,672 shares of the company’s stock, valued at $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 have sold a total of 6,602 shares of company stock worth $1,950,122 over the last three months. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AMG. The Goldman Sachs Group reaffirmed a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research reaffirmed an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, TD Cowen reaffirmed a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.29.

About Affiliated Managers Group

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.