Affiliated Managers Group (NYSE:AMG) Trading Down 7.9% – What’s Next?

Affiliated Managers Group, Inc. (NYSE:AMG) shares were down 7.9% on Tuesday . The company traded as low as $338.25 and last traded at $337.0470. 200,483 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 363,257 shares. The stock had previously closed at $366.12.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMG shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen reissued a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research restated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a report on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $362.29.

Affiliated Managers Group Stock Down 7.2%

The firm’s 50 day simple moving average is $335.45 and its 200-day simple moving average is $311.43. 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 stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.57 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The company had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.37 EPS. Equities analysts expect that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared 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 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 0.16%.

Insider Transactions at Affiliated Managers Group

In related news, Director G. Staley Cates acquired 1,500 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $305.83 per share, with a total value of $458,745.00. Following the acquisition, the director owned 6,405 shares in the company, valued at $1,958,841.15. This represents a 30.58% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David Christopher Ryan sold 3,402 shares of the business’s stock in a transaction on 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 transaction, the director owned 1,092 shares in the company, valued at approximately $333,125.52. The trade was a 75.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 21,902 shares of company stock valued at $7,257,719. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Leonteq Securities AG acquired a new position in shares of Affiliated Managers Group during the 4th quarter worth about $30,000. Caitong International Asset Management Co. Ltd acquired a new position in Affiliated Managers Group during the fourth quarter worth approximately $42,000. EverSource Wealth Advisors LLC increased its position in Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after buying an additional 56 shares during the last quarter. Arax Advisory Partners raised its stake in Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after buying an additional 96 shares during the period. Finally, WealthCollab LLC lifted its position in shares of Affiliated Managers Group by 40.5% in the first quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock valued at $63,000 after buying an additional 66 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

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.