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

Affiliated Managers Group, Inc. (NYSE:AMG) General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $278.24, for a total value of $612,128.00. Following the sale, the general counsel owned 42,672 shares in the company, valued at $11,873,057.28. This trade represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock traded down $3.76 on Monday, hitting $282.01. The stock had a trading volume of 457,303 shares, compared to its average volume of 430,665. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.47 and a beta of 1.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group, Inc. has a 52-week low of $139.22 and a 52-week high of $334.78. The company’s 50 day moving average price is $309.85 and its 200 day moving average price is $270.97.

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

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, February 23rd. Affiliated Managers Group’s payout ratio is presently 0.17%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Affiliated Managers Group by 428.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after acquiring an additional 107 shares during the period. Leonteq Securities AG purchased a new stake in Affiliated Managers Group in the 4th quarter valued at approximately $30,000. Root Financial Partners LLC purchased a new stake in Affiliated Managers Group in the 3rd quarter valued at approximately $33,000. Meeder Asset Management Inc. acquired a new position in Affiliated Managers Group during the 3rd quarter worth approximately $34,000. Finally, Hantz Financial Services Inc. raised 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 buying an additional 93 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

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.