Affiliated Managers Group, Inc. $AMG is Goodman Financial Corp’s 7th Largest Position

Goodman Financial Corp cut its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 15.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,474 shares of the asset manager’s stock after selling 12,787 shares during the period. Affiliated Managers Group makes up 3.7% of Goodman Financial Corp’s portfolio, making the stock its 7th biggest position. Goodman Financial Corp’s holdings in Affiliated Managers Group were worth $19,451,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Fulton Bank N.A. bought a new stake in Affiliated Managers Group in the 4th quarter worth about $364,000. Wealth Enhancement Advisory Services LLC lifted its stake in Affiliated Managers Group by 42.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,607 shares of the asset manager’s stock valued at $1,119,000 after acquiring an additional 1,073 shares during the period. Oliver Luxxe Assets LLC boosted its holdings in shares of Affiliated Managers Group by 64.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 18,407 shares of the asset manager’s stock valued at $5,306,000 after acquiring an additional 7,197 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Affiliated Managers Group during the 4th quarter valued at about $206,000. Finally, Procyon Advisors LLC grew its stake in shares of Affiliated Managers Group by 5.0% in the fourth quarter. Procyon Advisors LLC now owns 1,730 shares of the asset manager’s stock worth $499,000 after acquiring an additional 82 shares during the period. 95.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Kavita Padiyar sold 2,200 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $278.24, for a total value of $612,128.00. Following the completion of the sale, the general counsel directly owned 42,672 shares in the company, valued at $11,873,057.28. This represents a 4.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Thomas M. Wojcik sold 8,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $286.30, for a total value of $2,290,400.00. Following the completion of the transaction, the chief operating officer directly owned 159,465 shares in the company, valued at approximately $45,654,829.50. This represents a 4.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $278.47 on Monday. 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 market capitalization of $7.43 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 0.46 and a beta of 1.18. The firm’s 50 day moving average price is $305.58 and its 200-day moving average price is $274.58. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $334.78.

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

Affiliated Managers Group Dividend Announcement

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

Analyst Upgrades and Downgrades

AMG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the company a “buy” rating in a report on Friday, February 13th. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. The Goldman Sachs Group lifted 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. 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, Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group 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.