Affiliated Managers Group, Inc. $AMG Shares Sold by Boston Partners

Key Points

• Boston Partners trimmed its position in Affiliated Managers Group by 1.8% in the fourth quarter, though it still held 1,136,710 shares worth about $327.8 million. Institutional ownership remains very high, with hedge funds and other institutional investors owning 95.30% of the stock.
• Insiders have been selling shares recently, including directors Felix V. Matos Rodriguez and David Christopher Ryan, who sold 1,000 and 3,402 shares respectively. Over the past three months, insiders sold 21,902 shares worth about $7.26 million.
• AMG posted stronger-than-expected quarterly results, reporting EPS of $8.23 versus estimates of $8.10 and revenue of $544.9 million, up 9.7% year over year. Analysts remain mostly positive, with seven Buy ratings and a consensus target price of $362.29.

Boston Partners reduced its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,136,710 shares of the asset manager's stock after selling 20,634 shares during the quarter. Boston Partners owned 4.04% of Affiliated Managers Group worth $327,757,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Leonteq Securities AG purchased a new position in Affiliated Managers Group in the fourth quarter valued at about $30,000. Hantz Financial Services Inc. grew its position in shares of Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock valued at $34,000 after purchasing an additional 93 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Affiliated Managers Group by 89.9% in the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager's stock valued at $55,000 after purchasing an additional 133 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Affiliated Managers Group by 51.9% in the third quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager's stock valued at $59,000 after purchasing an additional 84 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Affiliated Managers Group by 676.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager's stock valued at $67,000 after purchasing an additional 203 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the sale, the director owned 4,369 shares of the company's stock, valued at approximately $1,311,486.42. The trade was a 18.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David Christopher Ryan sold 3,402 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the completion of the sale, the director directly owned 1,092 shares of the company's stock, valued at $333,125.52. The trade was a 75.70% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is currently owned by insiders.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $354.55 on Friday. Affiliated Managers Group, Inc. has a 12-month low of $179.79 and a 12-month high of $355.55. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The firm's fifty day moving average price is $302.17 and its 200 day moving average price is $296.94.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released 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. The firm had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.37 EPS. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. The Goldman Sachs Group restated a "buy" rating and set a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. TD Cowen restated a "buy" rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Finally, Barrington Research restated an "outperform" rating and set a $365.00 target price on shares of Affiliated Managers Group in a research report on Monday, April 27th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $362.29.

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.

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