Affiliated Managers Group, Inc. $AMG Shares Sold by Danske Bank A S

Key Points

• Danske Bank A/S trimmed its stake in Affiliated Managers Group by 62.3% in Q4, selling 8,413 shares and leaving 5,084 shares worth about $1.466 million.
• Insiders also trimmed positions: General Counsel Kavita Padiyar sold 2,200 shares and COO Thomas Wojcik sold 8,000 shares in March, each reducing their holdings by roughly 4.8–4.9%.
• AMG posted an EPS beat ($8.23 vs. $8.10) with revenue up 9.7% y/y, and analysts maintain a consensus Moderate Buy rating with an average target of $362.29 versus the recent price near $303.49.

Danske Bank A S trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 62.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,084 shares of the asset manager's stock after selling 8,413 shares during the period. Danske Bank A S's holdings in Affiliated Managers Group were worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new position in shares of Affiliated Managers Group during the third quarter worth about $33,000. Meeder Asset Management Inc. acquired a new stake in shares of Affiliated Managers Group in the third quarter valued at about $34,000. Hantz Financial Services Inc. raised its holdings in shares of Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock valued at $34,000 after buying an additional 93 shares during the period. Millstone Evans Group LLC raised its holdings in shares of Affiliated Managers Group by 41.9% during the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager's stock valued at $42,000 after buying an additional 52 shares during the period. Finally, Global Retirement Partners LLC lifted its position in Affiliated Managers Group by 1,237.5% during the 3rd quarter. Global Retirement Partners LLC now owns 214 shares of the asset manager's stock worth $51,000 after acquiring an additional 198 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group restated a "buy" rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday. Barrington Research reissued an "outperform" rating and set a $365.00 target price on shares of Affiliated Managers Group in a research report on Monday, April 27th. Weiss Ratings restated a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday. Finally, TD Cowen dropped their price target on shares of Affiliated Managers Group to $454.00 and set a "buy" rating on the stock in a research note on Monday. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $362.29.

Insiders Place Their Bets

In other Affiliated Managers Group news, General Counsel Kavita Padiyar sold 2,200 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the transaction, the general counsel directly owned 42,672 shares of the company's stock, valued at $11,873,057.28. This trade represents a 4.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Thomas M. Wojcik sold 8,000 shares of the business'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 completion of the sale, the chief operating officer directly owned 159,465 shares of the company's stock, valued at $45,654,829.50. The trade was a 4.78% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by insiders.

Affiliated Managers Group Trading Up 2.0%

Shares of AMG opened at $303.49 on Wednesday. Affiliated Managers Group, Inc. has a one year low of $170.27 and a one year high of $334.78. The stock has a 50-day moving average price of $287.34 and a 200 day moving average price of $284.69. 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 company has a market capitalization of $8.06 billion, a P/E ratio of 12.28, a P/E/G ratio of 0.50 and a beta of 1.14.

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 19.92% and a net margin of 35.55%.The company had revenue of $544.90 million for the quarter, compared to the consensus estimate of $544.01 million. During the same period in the previous year, the business earned $5.37 EPS. Affiliated Managers Group'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 32.94 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

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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