Key Points
- Director Rodriguez Felix Matos sold 1,000 shares of Affiliated Managers Group at an average price of $300.18, totaling about $300,180 and reducing his ownership by 18.63%.
- Affiliated Managers Group reported better-than-expected quarterly earnings, posting $8.23 EPS versus $8.10 expected, while revenue rose 9.7% year over year to $544.9 million.
- The company also announced a quarterly dividend of $0.01 per share, and analysts currently rate the stock a Moderate Buy with a consensus price target of $362.29.
Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) Director Rodriguez Felix Matos sold 1,000 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director directly owned 4,369 shares of the company's stock, valued at $1,311,486.42. This trade represents a 18.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Affiliated Managers Group Stock Up 1.7%
AMG opened at $302.79 on Friday. Affiliated Managers Group, Inc. has a fifty-two week low of $172.54 and a fifty-two week high of $334.78. The business has a 50-day moving average of $287.55 and a 200-day moving average of $285.63. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $8.04 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.51 and a beta of 1.14.
Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping analysts' consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 19.92% and a net margin of 35.55%.The company had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same period last year, the business earned $5.37 EPS. The business's quarterly revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 34.23 EPS for the current fiscal year.
Affiliated Managers Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Monday, May 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, May 11th. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.16%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday. TD Cowen cut their price objective on Affiliated Managers Group to $454.00 and set a "buy" rating on the stock in a research note on Monday, May 4th. Wall Street Zen downgraded Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 4th. Finally, Barrington Research reissued an "outperform" rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $362.29.
Read Our Latest Research Report on Affiliated Managers Group
Institutional Trading of Affiliated Managers Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMG. Goldman Sachs Group Inc. grew its holdings in Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager's stock valued at $19,047,000 after buying an additional 1,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager's stock valued at $23,815,000 after buying an additional 6,262 shares during the last quarter. Jane Street Group LLC acquired a new stake in Affiliated Managers Group in the 1st quarter valued at approximately $1,947,000. American Century Companies Inc. grew its holdings in Affiliated Managers Group by 1.2% in the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager's stock valued at $1,683,000 after buying an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager's stock valued at $55,000 after buying an additional 133 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.
About Affiliated Managers Group
(
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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