Nordea Investment Management AB Sells 4,796 Shares of Affiliated Managers Group, Inc. $AMG

Nordea Investment Management AB cut its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,784 shares of the asset manager’s stock after selling 4,796 shares during the quarter. Nordea Investment Management AB owned approximately 0.14% of Affiliated Managers Group worth $11,484,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Boston Partners increased its stake in shares of Affiliated Managers Group by 2.1% in the third quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after buying an additional 24,217 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Affiliated Managers Group by 1.2% in the third quarter. Dimensional Fund Advisors LP now owns 684,116 shares of the asset manager’s stock worth $163,113,000 after acquiring an additional 7,891 shares during the period. LSV Asset Management boosted its holdings in Affiliated Managers Group by 0.7% in the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after acquiring an additional 3,400 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Affiliated Managers Group by 14.6% in the third 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. Finally, Norges Bank acquired a new stake in Affiliated Managers Group during the 2nd quarter valued at approximately $71,779,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of AMG opened at $280.37 on Thursday. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. The business’s 50 day moving average price is $303.46 and its two-hundred day moving average price is $275.24. The firm has a market cap of $7.48 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. The firm had revenue of $556.60 million for the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $6.53 EPS. On average, equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction on Friday, March 6th. The shares were 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 of the company’s stock, valued at approximately $45,654,829.50. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the transaction, the general counsel owned 42,672 shares in the company, valued at $11,873,057.28. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.20% of the company’s stock.

Analyst Upgrades and Downgrades

AMG has been the subject of several analyst reports. Wall Street Zen upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. The Goldman Sachs Group boosted their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group Company Profile

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.