First Trust Advisors LP Has $38.50 Million Stake in Affiliated Managers Group, Inc. $AMG

First Trust Advisors LP trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 31.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 161,478 shares of the asset manager’s stock after selling 73,201 shares during the period. First Trust Advisors LP owned approximately 0.57% of Affiliated Managers Group worth $38,501,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Affiliated Managers Group by 428.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 107 shares during the period. Root Financial Partners LLC bought a new position in Affiliated Managers Group during the 3rd quarter valued at $33,000. Meeder Asset Management Inc. purchased a new position in Affiliated Managers Group during the 3rd quarter worth $34,000. Hantz Financial Services Inc. boosted its holdings in Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after purchasing an additional 93 shares during the last quarter. Finally, Millstone Evans Group LLC grew its holdings in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMG. 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. The Goldman Sachs Group raised their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on Affiliated Managers Group and gave the company a “buy” rating in a report on Friday, February 13th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Seven equities research 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $350.14.

Affiliated Managers Group Trading Down 4.4%

Shares of AMG opened at $269.70 on Friday. Affiliated Managers Group, Inc. has a 1-year low of $139.22 and a 1-year high of $334.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $7.20 billion, a P/E ratio of 11.69, a P/E/G ratio of 0.47 and a beta of 1.18. The firm’s 50 day simple moving average is $308.98 and its 200 day simple moving average is $271.88.

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

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, February 23rd were issued a $0.01 dividend. The ex-dividend date was Monday, February 23rd. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.17%.

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of the firm’s 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 owned 159,465 shares of the company’s stock, valued at approximately $45,654,829.50. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction dated 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 transaction, the general counsel directly owned 42,672 shares of the company’s stock, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is currently owned by insiders.

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.