Affiliated Managers Group (NYSE:AMG) COO Sells $3,696,480.00 in Stock

Key Points

• Thomas Wojcik, COO of Affiliated Managers Group, sold 16,000 shares at an average price of $231.03, totaling approximately $3.7 million, decreasing his ownership by 9.16%.
• Affiliated Managers Group reported $5.39 EPS for the last quarter, surpassing estimates of $5.26, despite a 1.4% decline in revenue year-over-year.
• The company declared a quarterly dividend of $0.01, indicating a 0.0% dividend yield, with an annualized dividend of $0.04.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) COO Thomas M. Wojcik sold 16,000 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares in the company, valued at $36,666,771.30. The trade was a 9.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Affiliated Managers Group Stock Performance

AMG traded down $0.14 on Friday, hitting $235.82. 206,428 shares of the company were exchanged, compared to its average volume of 170,353. Affiliated Managers Group, Inc. has a 12 month low of $139.22 and a 12 month high of $238.29. The company has a market cap of $6.70 billion, a PE ratio of 17.21, a PEG ratio of 0.62 and a beta of 1.19. The stock's fifty day moving average is $217.10 and its 200-day moving average is $187.83.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. During the same quarter in the prior year, the company posted $4.67 earnings per share. Affiliated Managers Group's revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Monday, August 11th. Affiliated Managers Group's dividend payout ratio is presently 0.29%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMG shares. Bank of America upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $236.00 to $331.00 in a report on Tuesday, September 2nd. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their price objective for the company from $214.00 to $255.00 in a research note on Monday, August 4th. Barrington Research restated an "outperform" rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, July 29th. Finally, The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $197.00 to $218.00 in a research note on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $242.40.

Institutional Trading of Affiliated Managers Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Redwood Investment Management LLC increased its stake in shares of Affiliated Managers Group by 0.9% during the first quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager's stock worth $1,306,000 after purchasing an additional 69 shares during the period. Cetera Investment Advisers increased its stake in shares of Affiliated Managers Group by 2.5% during the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock worth $536,000 after purchasing an additional 70 shares during the period. Guinness Asset Management LTD increased its stake in shares of Affiliated Managers Group by 2.4% during the second quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager's stock worth $629,000 after purchasing an additional 74 shares during the period. Parallel Advisors LLC increased its stake in shares of Affiliated Managers Group by 6.8% during the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock worth $197,000 after purchasing an additional 75 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Affiliated Managers Group by 70.8% during the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after purchasing an additional 75 shares during the period. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.