Affiliated Managers Group (NYSE:AMG) Trading Down 7.9% – Time to Sell?

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) dropped 7.9% during trading on Tuesday . The stock 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on AMG shares. Wall Street Zen upgraded shares of 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 set a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, TD Cowen restated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Stock Up 1.8%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. The company has a fifty day moving average price of $337.09 and a 200-day moving average price of $312.20. The firm has a market capitalization of $9.16 billion, a PE ratio of 14.03, a PEG ratio of 0.52 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last released 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. The firm had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.37 EPS. As a group, analysts expect that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Insider Buying and Selling

In other Affiliated Managers Group news, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the transaction, the director owned 4,369 shares in the company, valued at approximately $1,311,486.42. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 shares were sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the completion of the transaction, the director owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 over the last three months. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Affiliated Managers Group during the fourth quarter worth approximately $113,743,000. Balyasny Asset Management L.P. lifted its position in Affiliated Managers Group by 3,811.8% in the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after purchasing an additional 303,423 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at approximately $70,356,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Affiliated Managers Group by 28,466.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager’s stock worth $58,240,000 after buying an additional 192,715 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Affiliated Managers Group by 75.5% in the 1st quarter. Bank of America Corp DE now owns 409,578 shares of the asset manager’s stock worth $113,330,000 after acquiring an additional 176,246 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.