Jay Horgen Sells 17,500 Shares of Affiliated Managers Group (NYSE:AMG) Stock

Affiliated Managers Group, Inc. (NYSE:AMG) CEO Jay Horgen sold 17,500 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the sale, the chief executive officer directly owned 204,706 shares in the company, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Affiliated Managers Group Stock Up 0.1%

AMG traded up $0.26 during trading on Monday, hitting $337.07. The company had a trading volume of 613,040 shares, compared to its average volume of 311,633. The company has a market cap of $8.90 billion, a PE ratio of 13.64, a P/E/G ratio of 0.57 and a beta of 1.13. The business has a 50-day moving average of $296.42 and a 200-day moving average of $294.70. 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, Inc. has a 1-year low of $179.79 and a 1-year high of $345.07.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.13. The firm had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $5.37 earnings per share. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current 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 issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.

Institutional Trading of Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the business. Captrust Financial Advisors grew its position in shares of Affiliated Managers Group by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after buying an additional 34 shares during the period. AlphaCore Capital LLC grew its position in shares of Affiliated Managers Group by 3.4% during the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after buying an additional 36 shares during the period. Parallel Advisors LLC grew its position in shares of Affiliated Managers Group by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after buying an additional 42 shares during the period. Allworth Financial LP grew its position in shares of Affiliated Managers Group by 10.3% during the 4th quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after buying an additional 45 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Affiliated Managers Group by 2.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after purchasing an additional 46 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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