Insider Selling: Affiliated Managers Group (NYSE:AMG) General Counsel Sells $612,128.00 in Stock

Affiliated Managers Group, Inc. (NYSE:AMG) General Counsel Kavita Padiyar sold 2,200 shares of the stock in a transaction that occurred 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 owned 42,672 shares in the company, valued at approximately $11,873,057.28. The trade was a 4.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Affiliated Managers Group Trading Up 0.5%

Shares of Affiliated Managers Group stock opened at $282.36 on Thursday. The stock has a market capitalization of $7.53 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 0.47 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52 week low of $139.22 and a 52 week high of $334.78. The stock has a 50 day moving average price of $309.35 and a two-hundred day moving average price of $271.89. 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 (NYSE:AMG) last issued its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping 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 company had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. During the same period in the prior year, the firm earned $6.53 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, February 23rd were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Monday, February 23rd. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.17%.

Analysts Set New Price Targets

AMG has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Wall Street Zen upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price target on Affiliated Managers Group and gave the company a “buy” rating in a research report on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Institutional Trading of Affiliated Managers Group

A number of institutional investors and hedge funds have recently modified their holdings of AMG. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 107 shares during the last quarter. Leonteq Securities AG bought a new position in Affiliated Managers Group during the fourth quarter valued at about $30,000. Root Financial Partners LLC purchased a new stake in Affiliated Managers Group during the third quarter worth about $33,000. Meeder Asset Management Inc. bought a new stake in Affiliated Managers Group in the third quarter worth about $34,000. Finally, Hantz Financial Services Inc. boosted its stake in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 93 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.