Legal & General Group Plc Reduces Position in Affiliated Managers Group, Inc. $AMG

Legal & General Group Plc reduced its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,165 shares of the asset manager’s stock after selling 2,133 shares during the period. Legal & General Group Plc owned about 0.16% of Affiliated Managers Group worth $12,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ lifted its holdings 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 worth $4,792,000 after buying an additional 10,200 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Affiliated Managers Group by 14.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock valued at $93,741,000 after acquiring an additional 50,219 shares during the last quarter. Altfest L J & Co. Inc. acquired a new stake in shares of Affiliated Managers Group during the 4th quarter worth about $1,179,000. Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in Affiliated Managers Group during the third quarter worth approximately $5,357,000. Finally, LSV Asset Management lifted its stake in Affiliated Managers Group by 0.7% during the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock worth $114,357,000 after purchasing an additional 3,400 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the sale, the director owned 4,369 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas M. Wojcik sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $286.30, for a total value of $2,290,400.00. Following the completion of the sale, the chief operating officer directly owned 159,465 shares in the company, valued at approximately $45,654,829.50. The trade was a 4.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,602 shares of company stock valued at $4,240,522 in the last 90 days. Insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Up 2.9%

AMG stock opened at $311.13 on Wednesday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The company’s 50-day moving average price is $291.49 and its 200 day moving average price is $292.24. Affiliated Managers Group, Inc. has a 52 week low of $178.17 and a 52 week high of $334.78. The company has a market cap of $8.22 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.51 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last posted 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 company had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. During the same quarter in the prior year, the company earned $5.37 earnings per share. Affiliated Managers Group’s revenue was up 9.7% compared to the same quarter last year. On average, research analysts expect 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 dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.16%.

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.