Affiliated Managers Group, Inc. $AMG Shares Sold by Boston Partners

Boston Partners trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 1,136,710 shares of the asset manager’s stock after selling 20,634 shares during the period. Boston Partners’ holdings in Affiliated Managers Group were worth $327,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Leonteq Securities AG acquired a new position in Affiliated Managers Group during the 4th quarter valued at about $30,000. Hantz Financial Services Inc. lifted its stake in shares of Affiliated Managers Group by 189.8% in 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. EverSource Wealth Advisors LLC lifted its stake in shares of Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after acquiring an additional 133 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Affiliated Managers Group by 51.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock worth $59,000 after acquiring an additional 84 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Affiliated Managers Group by 676.7% in the 4th quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock worth $67,000 after acquiring an additional 203 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Up 3.0%

AMG stock opened at $354.55 on Friday. Affiliated Managers Group, Inc. has a 52-week low of $179.79 and a 52-week high of $355.55. The company’s 50 day simple moving average is $302.17 and its 200-day simple moving average is $296.94. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market capitalization of $9.36 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.58 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. During the same period in the previous year, the firm posted $5.37 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the transaction, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director G. Staley Cates bought 1,500 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $305.83 per share, with a total value of $458,745.00. Following the completion of the transaction, the director directly owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. This represents a 30.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 21,902 shares of company stock valued at $7,257,719 in the last three months. 2.90% of the stock is currently owned by insiders.

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.