Affiliated Managers Group, Inc. $AMG Shares Sold by Gradient Investments LLC

Gradient Investments LLC trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 26.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,065 shares of the asset manager’s stock after selling 2,535 shares during the quarter. Gradient Investments LLC’s holdings in Affiliated Managers Group were worth $2,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AMG. Leonteq Securities AG purchased a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Affiliated Managers Group in the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC raised its position in shares of Affiliated Managers Group by 45.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 56 shares during the last quarter. Arax Advisory Partners boosted its stake in Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after purchasing an additional 96 shares in the last quarter. Finally, WealthCollab LLC grew its position in Affiliated Managers Group by 40.5% during the 1st quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock worth $63,000 after purchasing an additional 66 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Down 0.1%

AMG stock opened at $369.34 on Monday. The company has a market capitalization of $9.76 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11. Affiliated Managers Group, Inc. has a 12 month low of $210.87 and a 12 month high of $392.92. The firm’s fifty day simple moving average is $353.04 and its 200-day simple moving average is $316.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The firm had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. During the same quarter last year, the company posted $5.39 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 36.25 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Monday, August 10th. Affiliated Managers Group’s dividend payout ratio is currently 0.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $370.86.

Insider Buying and Selling

In other news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at $69,245,898.62. The trade was a 7.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Annette Franqui bought 750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $304.88 per share, with a total value of $228,660.00. Following the completion of the purchase, the director owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.90% of the stock is owned by company insiders.

Affiliated Managers Group 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.