Affiliated Managers Group (NYSE:AMG) Director Sells $1,037,814.12 in Stock

Key Points

• AMG director David Christopher Ryan sold 3,402 shares on May 6 for about $1.04 million, cutting his direct stake by roughly 75.7% to 1,092 shares.
• Affiliated Managers Group beat earnings expectations, reporting Q1 EPS of $8.23 versus $8.10 expected, while revenue rose 9.7% year over year to $544.9 million.
• The stock is drawing generally positive analyst sentiment, with seven Buy ratings and one Hold; the consensus target price is $362.29, above the recent trading price around $302.79.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total value of $1,037,814.12. Following the completion of the transaction, the director directly owned 1,092 shares of the company's stock, valued at approximately $333,125.52. This represents a 75.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Affiliated Managers Group Stock Up 1.7%

Shares of AMG traded up $5.03 during trading hours on Friday, hitting $302.79. The company had a trading volume of 339,903 shares, compared to its average volume of 396,394. The firm has a fifty day moving average price of $287.55 and a 200-day moving average price of $285.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 12.25, a P/E/G ratio of 0.53 and a beta of 1.14. Affiliated Managers Group, Inc. has a 52-week low of $172.54 and a 52-week high of $334.78.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 19.92% and a net margin of 35.55%.The firm had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same quarter in the previous year, the firm earned $5.37 EPS. Affiliated Managers Group's quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Affiliated Managers Group, Inc. will post 34.23 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group's payout ratio is 0.16%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday. The Goldman Sachs Group reiterated a "buy" rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday. Finally, TD Cowen decreased their target price on shares of Affiliated Managers Group to $454.00 and set a "buy" rating for the company in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Affiliated Managers Group has an average rating of "Moderate Buy" and a consensus target price of $362.29.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners increased its stake in shares of Affiliated Managers Group by 2.1% in the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager's stock worth $275,957,000 after purchasing an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Affiliated Managers Group by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager's stock worth $198,746,000 after purchasing an additional 18,865 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Affiliated Managers Group by 20.2% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager's stock worth $197,641,000 after purchasing an additional 115,313 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Affiliated Managers Group by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager's stock worth $158,916,000 after purchasing an additional 41,322 shares in the last quarter. Finally, LSV Asset Management increased its stake in shares of Affiliated Managers Group by 0.7% in the 3rd quarter. LSV Asset Management now owns 479,624 shares of the asset manager's stock worth $114,357,000 after purchasing an additional 3,400 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

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