Key Points
- General Counsel Kavita Padiyar sold 2,200 shares on March 9 at an average price of $278.24 for $612,128, trimming her stake by 4.90% to 42,672 shares valued at about $11.87 million (SEC filing).
- AMG beat EPS estimates, reporting $9.48 vs $8.75 consensus while revenue of $556.6M was slightly below estimates but up 6.2% year-over-year; the company has a $7.52 billion market cap, a P/E of 12.22, and an average analyst price target of $350.14 with most analysts rating the stock a Buy.
Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) General Counsel Kavita Padiyar sold 2,200 shares of the firm's stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Affiliated Managers Group Stock Performance
Shares of AMG opened at $282.01 on Tuesday. The stock's 50-day simple moving average is $309.66 and its 200 day simple moving average is $271.42. The stock has a market capitalization of $7.52 billion, a price-to-earnings ratio of 12.22, a price-to-earnings-growth ratio of 0.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78.
Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating analysts' consensus estimates of $8.75 by $0.73. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business had revenue of $556.60 million during the quarter, compared to analyst estimates of $578.54 million. During the same quarter in the previous year, the firm earned $6.53 EPS. The company's quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.
Affiliated Managers Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were paid a $0.01 dividend. The ex-dividend date was Monday, February 23rd. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group's dividend payout ratio is currently 0.17%.
Hedge Funds Weigh In On Affiliated Managers Group
Several institutional investors have recently modified their holdings of AMG. Norges Bank bought a new stake in Affiliated Managers Group in the 4th quarter worth approximately $113,743,000. Balyasny Asset Management L.P. grew its position in Affiliated Managers Group by 3,811.8% during the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager's stock valued at $61,271,000 after acquiring an additional 303,423 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Affiliated Managers Group during the third quarter worth approximately $70,356,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Affiliated Managers Group by 28,466.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager's stock worth $58,240,000 after acquiring an additional 192,715 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Affiliated Managers Group by 97.4% in the 3rd quarter. UBS Group AG now owns 350,212 shares of the asset manager's stock valued at $83,501,000 after purchasing an additional 172,771 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on AMG. Wall Street Zen upgraded Affiliated Managers Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Zacks Research downgraded Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 15th. The Goldman Sachs Group boosted their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a "buy" rating in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the stock a "buy" rating in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $350.14.
Check Out Our Latest Research Report on AMG
Affiliated Managers Group Company Profile
(
Get Free Report)
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.
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