Affiliated Managers Group (NYSE:AMG) General Counsel Kavita Padiyar Sells 2,200 Shares of Stock

Affiliated Managers Group, Inc. (NYSE:AMG) General Counsel Kavita Padiyar sold 2,200 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the sale, the general counsel owned 42,672 shares of the company’s stock, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Affiliated Managers Group Trading Down 1.3%

Shares of AMG stock opened at $282.01 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.47 and a beta of 1.18. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78. The company has a 50-day simple moving average of $309.66 and a two-hundred day simple moving average of $271.42.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, topping the consensus estimate of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The firm had revenue of $556.60 million for the quarter, compared to analysts’ expectations of $578.54 million. During the same quarter last year, the firm earned $6.53 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, February 23rd. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the stock a “buy” rating in a research report on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $350.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Affiliated Managers Group by 428.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 107 shares during the period. Leonteq Securities AG purchased a new position in shares of Affiliated Managers Group in the fourth quarter worth about $30,000. Root Financial Partners LLC bought a new stake in shares of Affiliated Managers Group in the third quarter valued at approximately $33,000. Meeder Asset Management Inc. bought a new stake in shares of Affiliated Managers Group in the third quarter valued at approximately $34,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after buying an additional 93 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

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.