Jay Horgen Sells 17,500 Shares of Affiliated Managers Group (NYSE:AMG) Stock

Affiliated Managers Group, Inc. (NYSE:AMG) CEO Jay Horgen sold 17,500 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Affiliated Managers Group Trading Up 1.9%

NYSE AMG opened at $343.06 on Wednesday. The firm has a market capitalization of $9.06 billion, a P/E ratio of 13.88, a PEG ratio of 0.57 and a beta of 1.13. The business has a fifty day simple moving average of $297.89 and a 200 day simple moving average of $295.33. Affiliated Managers Group, Inc. has a 12 month low of $179.79 and a 12 month high of $348.15. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. The business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.Affiliated Managers Group’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.37 EPS. On average, analysts predict that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is 0.16%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMG shares. TD Cowen restated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research restated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Affiliated Managers Group has an average rating of “Moderate Buy” and an average price target of $362.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Leonteq Securities AG bought a new position in shares of Affiliated Managers Group during the 4th quarter worth $30,000. Hantz Financial Services Inc. grew 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 worth $34,000 after acquiring an additional 93 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group during the 4th quarter worth $42,000. EverSource Wealth Advisors LLC grew its stake in shares of Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after acquiring an additional 56 shares during the period. Finally, Arax Advisory Partners grew its stake 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. Institutional investors own 95.30% of the company’s stock.

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.