Affiliated Managers Group (NYSE:AMG) Shares Down 6.1% - Here's What Happened

Key Points

• Shares fell 6.1% to about $256.69 on Thursday, trading just 30,506 shares — a ~92% drop from average volume.
• Wall Street is broadly positive with a consensus rating of “Moderate Buy” and an average price target of $350.14; several firms have buy/strong‑buy ratings (Deutsche Bank $408 target, Goldman Sachs raised target to $341).
• The company reported EPS of $9.48 (above the $8.75 estimate) but missed revenue expectations ($556.6M vs. $578.5M); it paid a tiny $0.01 quarterly dividend and insiders — including the COO and general counsel — recently sold shares totaling roughly $2.9M.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report)'s share price fell 6.1% during trading on Thursday . The company traded as low as $261.50 and last traded at $256.6930. 30,506 shares traded hands during trading, a decline of 92% from the average session volume of 406,080 shares. The stock had previously closed at $273.50.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AMG shares. 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. TD Cowen reaffirmed a "buy" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. The Goldman Sachs Group raised their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a "buy" rating in a research report on Tuesday, January 6th. 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. Finally, Zacks Research lowered Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 15th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.14.

Affiliated Managers Group Price Performance

The stock's 50 day moving average is $298.38 and its two-hundred day moving average is $276.62. The stock has a market capitalization of $7.11 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34.

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

Affiliated Managers Group Announces Dividend

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

Insiders Place Their Bets

In other news, COO Thomas M. Wojcik sold 8,000 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $612,128.00. Following 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 position. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by company insiders.

Institutional Trading of Affiliated Managers Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMG. Captrust Financial Advisors raised its stake in Affiliated Managers Group by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager's stock worth $289,000 after acquiring an additional 34 shares in the last quarter. AlphaCore Capital LLC lifted its position in Affiliated Managers Group by 3.4% in the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager's stock valued at $312,000 after acquiring an additional 36 shares during the last quarter. Allworth Financial LP boosted its stake in Affiliated Managers Group by 10.3% in the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager's stock valued at $139,000 after acquiring an additional 45 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of 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 worth $692,000 after purchasing an additional 46 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Affiliated Managers Group by 1.4% during the fourth quarter. Quadrant Capital Group LLC now owns 3,220 shares of the asset manager's stock worth $928,000 after purchasing an additional 46 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

About Affiliated Managers Group

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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