Affiliated Managers Group, Inc. $AMG Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group cut its Affiliated Managers Group stake by 98.6% in the first quarter, selling 13,684 shares and retaining just 190 shares worth approximately $52,000. Institutional investors collectively own 95.3% of AMG.
• AMG reported first-quarter EPS of $8.23, exceeding estimates of $8.10, while revenue rose 9.7% year over year to $544.9 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $362.29.
• Shares opened at $370.74, near the company’s 52-week high of $382.75. Meanwhile, insiders sold 21,902 shares valued at approximately $7.26 million over the past three months.

Bessemer Group Inc. reduced its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 98.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 190 shares of the asset manager's stock after selling 13,684 shares during the quarter. Bessemer Group Inc.'s holdings in Affiliated Managers Group were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager's stock valued at $19,047,000 after purchasing an additional 1,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Affiliated Managers Group by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager's stock worth $23,815,000 after purchasing an additional 6,262 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Affiliated Managers Group during the 1st quarter worth approximately $1,947,000. American Century Companies Inc. lifted its stake in Affiliated Managers Group by 1.2% in the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager's stock valued at $1,683,000 after buying an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager's stock valued at $55,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Insider Buying and Selling at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 17,500 shares of the company's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, the chief executive officer owned 204,706 shares in the company, valued at approximately $69,245,898.62. This represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the transaction, the director directly owned 4,369 shares of the company's stock, valued at $1,311,486.42. This represents a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 21,902 shares of company stock valued at $7,257,719 over the last three months. 2.90% of the stock is owned by insiders.

Affiliated Managers Group Trading Up 1.9%

NYSE:AMG opened at $370.74 on Wednesday. The stock has a fifty day simple moving average of $342.09 and a 200 day simple moving average of $313.81. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12. Affiliated Managers Group, Inc. has a 1-year low of $200.00 and a 1-year high of $382.75. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data 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 20.17% and a net margin of 35.55%.The firm had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. During the same quarter in the previous year, the company earned $5.37 EPS. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is currently 0.16%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AMG shares. Barrington Research reissued an "outperform" rating and set a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. The Goldman Sachs Group reissued a "buy" rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Sunday, June 28th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Affiliated Managers Group has an average rating of "Moderate Buy" and an average price target of $362.29.

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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