Affiliated Managers Group (NYSE:AMG) Trading Down 6.1% – Time to Sell?

Affiliated Managers Group, Inc. (NYSE:AMG)’s share price fell 6.1% on Thursday . The stock traded as low as $261.50 and last traded at $256.6930. 30,506 shares were traded during mid-day trading, a decline of 92% from the average session volume of 406,080 shares. The stock had previously closed at $273.50.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. The Goldman Sachs Group raised their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $298.38 and a 200-day moving average price of $276.62. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 0.46 and a beta of 1.20.

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

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were given a $0.01 dividend. The ex-dividend date was Monday, February 23rd. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.17%.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, General Counsel Kavita Padiyar sold 2,200 shares of the company’s 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 transaction, the general counsel directly owned 42,672 shares in the company, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Thomas M. Wojcik sold 8,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the completion of the transaction, the chief operating officer directly owned 159,465 shares of the company’s stock, valued at approximately $45,654,829.50. This trade represents a 4.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Affiliated Managers Group

A number of large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after purchasing an additional 1,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Affiliated Managers Group by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after purchasing an additional 6,262 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Affiliated Managers Group during the first quarter worth about $1,947,000. Cetera Investment Advisers grew its holdings in shares of Affiliated Managers Group by 3.5% during the second quarter. Cetera Investment Advisers now owns 5,675 shares of the asset manager’s stock worth $1,117,000 after buying an additional 194 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Affiliated Managers Group by 1.2% in the second quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after buying an additional 104 shares during the last quarter. Institutional investors and hedge funds 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.