Affiliated Managers Group (NYSE:AMG) COO Thomas Wojcik Sells 8,000 Shares

Affiliated Managers Group, Inc. (NYSE:AMG) COO Thomas Wojcik sold 8,000 shares of the stock in a transaction that occurred on 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 $45,654,829.50. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Affiliated Managers Group Stock Down 1.3%

NYSE:AMG opened at $282.01 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $334.78. The company has a market cap of $7.52 billion, a PE ratio of 12.22, a P/E/G ratio of 0.47 and a beta of 1.18. The company’s 50 day moving average is $309.66 and its two-hundred day moving average is $271.42.

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

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders 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 yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.17%.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds have recently bought and sold shares of AMG. Captrust Financial Advisors increased its holdings in shares of Affiliated Managers Group by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after purchasing an additional 34 shares in the last quarter. AlphaCore Capital LLC boosted its holdings in Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after buying an additional 36 shares in the last quarter. Allworth Financial LP grew its position in Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock valued at $139,000 after buying an additional 45 shares during the period. Coldstream Capital Management Inc. grew its position in Affiliated Managers Group by 2.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after buying an additional 46 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Affiliated Managers Group by 1.4% in the fourth quarter. Quadrant Capital Group LLC now owns 3,220 shares of the asset manager’s stock valued at $928,000 after buying an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.