Goodman Financial Corp Trims Stock Position in Affiliated Managers Group, Inc. $AMG

Goodman Financial Corp trimmed its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 51.8% in the first quarter, Holdings Channel reports. The fund owned 32,492 shares of the asset manager’s stock after selling 34,982 shares during the period. Goodman Financial Corp’s holdings in Affiliated Managers Group were worth $8,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Partners increased its holdings 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 purchasing an additional 24,217 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 699,448 shares of the asset manager’s stock worth $201,640,000 after purchasing an additional 15,332 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Affiliated Managers Group by 20.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock worth $197,641,000 after purchasing an additional 115,313 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Affiliated Managers Group by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock worth $158,916,000 after purchasing an additional 41,322 shares during the period. Finally, Allianz Asset Management GmbH grew its position in Affiliated Managers Group by 8.5% in the 4th quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager’s stock valued at $122,994,000 after buying an additional 33,488 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMG shares. TD Cowen reissued a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average target price of $362.29.

Affiliated Managers Group Trading Down 0.8%

Shares of AMG stock opened at $376.62 on Friday. The business’s fifty day moving average price is $332.79 and its 200 day moving average price is $310.33. Affiliated Managers Group, Inc. has a 1-year low of $200.00 and a 1-year high of $382.75. The firm has a market capitalization of $9.95 billion, a PE ratio of 15.24, a P/E/G ratio of 0.58 and a beta of 1.12. 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 (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. During the same quarter in the prior year, the business posted $5.37 earnings per share. Affiliated Managers Group’s revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 35.48 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued 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 was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.16%.

Insiders Place Their Bets

In related news, Director G. Staley Cates acquired 1,500 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the purchase, the director directly owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Christopher Ryan sold 3,402 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the sale, the director directly owned 1,092 shares in the company, valued at approximately $333,125.52. This represents a 75.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 21,902 shares of company stock worth $7,257,719. Insiders own 2.90% of the company’s stock.

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.