Affiliated Managers Group (NYSE:AMG) Director Rodriguez Felix Matos Sells 1,000 Shares

Affiliated Managers Group, Inc. (NYSE:AMG) Director Rodriguez Felix Matos sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the transaction, the director directly owned 4,369 shares of the company’s stock, valued at $1,311,486.42. This represents a 18.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Affiliated Managers Group Trading Up 1.7%

Shares of AMG stock opened at $302.79 on Friday. The stock has a 50-day simple moving average of $287.55 and a 200 day simple moving average of $285.63. Affiliated Managers Group, Inc. has a fifty-two week low of $172.54 and a fifty-two week high of $334.78. The stock has a market capitalization of $8.04 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.51 and a beta of 1.14. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 19.92% and a net margin of 35.55%.The business had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. During the same quarter last year, the business posted $5.37 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that Affiliated Managers Group, Inc. will post 34.23 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Monday, May 11th will be given a $0.01 dividend. The ex-dividend date is Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.16%.

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Affiliated Managers Group by 2.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,045 shares of the asset manager’s stock worth $843,000 after purchasing an additional 82 shares in the last quarter. Convergence Investment Partners LLC raised its stake in shares of Affiliated Managers Group by 57.8% during the 1st quarter. Convergence Investment Partners LLC now owns 11,152 shares of the asset manager’s stock worth $3,086,000 after purchasing an additional 4,086 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock worth $198,746,000 after purchasing an additional 18,865 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Affiliated Managers Group by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after purchasing an additional 42 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of Affiliated Managers Group during the 1st quarter worth about $242,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AMG shares. Barrington Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Finally, TD Cowen decreased their price target on Affiliated Managers Group to $454.00 and set a “buy” rating for the company in a research report on Monday, May 4th. Seven equities 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, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

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.