Clarkston Capital Partners LLC Decreases Stake in Affiliated Managers Group, Inc. $AMG

Clarkston Capital Partners LLC cut its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 65.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,708 shares of the asset manager’s stock after selling 590,411 shares during the quarter. Affiliated Managers Group comprises 6.6% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 3rd biggest position. Clarkston Capital Partners LLC’s holdings in Affiliated Managers Group were worth $86,803,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Leonteq Securities AG bought a new position in shares of Affiliated Managers Group in the fourth quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group in the 4th quarter worth $42,000. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 133 shares during the last quarter. Arax Advisory Partners raised its position 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 valued at $57,000 after buying an additional 96 shares in the last quarter. Finally, WealthCollab LLC lifted its holdings in shares of Affiliated Managers Group by 40.5% during the 1st quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock worth $63,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Insider Buying and Selling at Affiliated Managers Group

In other news, Director Annette Franqui acquired 750 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were purchased at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the transaction, the director owned 1,962 shares of the company’s stock, valued at $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Christopher Ryan sold 3,402 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the sale, the director owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 over the last ninety days. 2.90% of the stock is owned by company insiders.

Affiliated Managers Group Price Performance

AMG opened at $346.83 on Friday. The stock’s 50 day simple moving average is $337.97 and its 200 day simple moving average is $312.61. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. Affiliated Managers Group, Inc. has a 1 year low of $200.00 and a 1 year high of $382.75. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.53 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same quarter in the previous year, the company posted $5.37 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. As a group, analysts predict that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th 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, May 11th. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.

Analyst Ratings Changes

A number of research firms recently commented on AMG. Barrington Research reissued an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $362.29.

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.