Private Client Services LLC Sells 2,010 Shares of Affiliated Managers Group, Inc. $AMG

Private Client Services LLC trimmed its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 35.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,649 shares of the asset manager’s stock after selling 2,010 shares during the period. Private Client Services LLC’s holdings in Affiliated Managers Group were worth $1,235,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Leonteq Securities AG bought a new position in Affiliated Managers Group in the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in Affiliated Managers Group during the 4th quarter valued at approximately $42,000. EverSource Wealth Advisors LLC boosted its position in Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 56 shares in the last quarter. Arax Advisory Partners grew its holdings in shares of Affiliated Managers Group by 94.1% during the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after acquiring an additional 96 shares during the period. Finally, WealthCollab LLC grew its holdings in shares of 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 acquiring an additional 66 shares during the period. Institutional investors own 95.30% of the company’s stock.

Insider Activity

In related news, Director Rodriguez Felix V. Matos sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the transaction, the director directly owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G. Staley Cates acquired 1,500 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the transaction, the director directly owned 6,405 shares in the company, valued at $1,958,841.15. This represents a 30.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 21,902 shares of company stock valued at $7,257,719. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $381.16 on Tuesday. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.56 and a beta of 1.12. The firm’s 50-day moving average is $347.48 and its 200 day moving average is $315.50. Affiliated Managers Group, Inc. has a 1 year low of $208.22 and a 1 year high of $384.11. 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 announced its quarterly earnings data on Wednesday, July 29th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million for the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. Affiliated Managers Group’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm posted $5.39 EPS. Sell-side analysts anticipate that Affiliated Managers Group, Inc. will post 35.64 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a research report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.86.

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.