JPMorgan Chase & Co. Lowers Stock Holdings in Affiliated Managers Group, Inc. $AMG

JPMorgan Chase & Co. lowered its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,643 shares of the asset manager’s stock after selling 13,222 shares during the period. JPMorgan Chase & Co. owned 0.45% of Affiliated Managers Group worth $29,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Carrera Capital Advisors purchased a new position in shares of Affiliated Managers Group during the 3rd quarter valued at $4,295,000. Allianz Asset Management GmbH raised its position in shares of Affiliated Managers Group by 14.6% in the third quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock worth $93,741,000 after buying an additional 50,219 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Affiliated Managers Group by 103.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock worth $4,792,000 after buying an additional 10,200 shares in the last quarter. Oliver Luxxe Assets LLC bought a new stake in Affiliated Managers Group during the third quarter valued at $2,673,000. Finally, Paragon Associates & Paragon Associates II Joint Venture bought a new stake in Affiliated Managers Group during the third quarter valued at $5,357,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 0.1%

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’s 50-day simple moving average is $305.58 and its two-hundred day simple moving average is $274.58. 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 capitalization of $7.43 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 0.46 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data 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 firm had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $6.53 EPS. Research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMG shares. Deutsche Bank Aktiengesellschaft set a $408.00 target price on Affiliated Managers Group and gave the stock a “buy” rating in a research note 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. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Finally, Wall Street Zen upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.14.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group 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 transaction, the chief operating officer directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the sale, the general counsel owned 42,672 shares of the company’s stock, valued at approximately $11,873,057.28. The trade was a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by company 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.