Kestra Advisory Services LLC Sells 1,977 Shares of Affiliated Managers Group, Inc. $AMG

Kestra Advisory Services LLC reduced its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 13.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,810 shares of the asset manager’s stock after selling 1,977 shares during the period. Kestra Advisory Services LLC’s holdings in Affiliated Managers Group were worth $3,544,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Leonteq Securities AG bought a new position in Affiliated Managers Group during the 4th quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new position in Affiliated Managers Group during the 4th quarter valued at $42,000. EverSource Wealth Advisors LLC increased its position in shares of Affiliated Managers Group by 89.9% during the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after buying an additional 133 shares during the period. Arax Advisory Partners grew its holdings 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 worth $57,000 after acquiring an additional 96 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in Affiliated Managers Group by 676.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock worth $67,000 after purchasing an additional 203 shares during the period. 95.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMG has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen reiterated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Finally, Barrington Research restated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Affiliated Managers Group currently has an average rating of “Moderate Buy” and an average target price of $362.29.

Insider Buying and Selling

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the sale, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at $69,245,898.62. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director owned 4,369 shares in the company, valued at approximately $1,311,486.42. This trade represents a 18.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,902 shares of company stock valued at $7,257,719 in the last quarter. 2.90% of the stock is currently owned by insiders.

Affiliated Managers Group Stock Performance

AMG opened at $369.96 on Friday. Affiliated Managers Group, Inc. has a fifty-two week low of $200.00 and a fifty-two week high of $382.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. The company has a fifty day moving average of $334.13 and a 200 day moving average of $310.75. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.58 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates 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 company 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 business earned $5.37 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

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.