Affiliated Managers Group, Inc. $AMG Shares Sold by Los Angeles Capital Management LLC

Key Points

• Los Angeles Capital Management cut its stake in Affiliated Managers Group by 24.4% in the fourth quarter, selling 17,775 shares and leaving it with 55,190 shares valued at about $15.9 million.
• Wall Street remains generally bullish on AMG, with seven analysts rating it a Buy and one Hold; the stock has a consensus Moderate Buy rating and an average price target of $362.29.
• AMG recently beat quarterly earnings expectations, reporting EPS of $8.23 versus $8.10 expected, while revenue rose 9.7% year over year to $544.9 million.

Los Angeles Capital Management LLC lowered its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,190 shares of the asset manager's stock after selling 17,775 shares during the period. Los Angeles Capital Management LLC owned about 0.20% of Affiliated Managers Group worth $15,910,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Leonteq Securities AG acquired a new stake in Affiliated Managers Group in the fourth quarter valued at about $30,000. Hantz Financial Services Inc. lifted its position in 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 period. EverSource Wealth Advisors LLC lifted its position in 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 period. Jones Financial Companies Lllp lifted its position in 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 period. Finally, Highlander Partners L.P. acquired a new stake in Affiliated Managers Group in the fourth quarter valued at about $68,000. Institutional investors and hedge funds own 95.30% of the company's stock.

Wall Street Analyst Weigh In

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

Affiliated Managers Group Trading Down 0.0%

Shares of Affiliated Managers Group stock opened at $336.75 on Monday. Affiliated Managers Group, Inc. has a 12-month low of $179.79 and a 12-month high of $338.07. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock has a market cap of $8.89 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.57 and a beta of 1.13. The company has a 50-day moving average of $295.19 and a two-hundred day moving average of $294.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company had revenue of $544.90 million during the quarter, compared to analysts' expectations of $544.01 million. During the same period last year, the company posted $5.37 earnings per share. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Insider Buying and Selling at Affiliated Managers Group

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were 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 trade represents a 18.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G. Staley Cates acquired 1,500 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average cost of $305.83 per share, with a total value of $458,745.00. Following the completion of the purchase, the director owned 6,405 shares in the company, valued at approximately $1,958,841.15. This represents a 30.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.90% 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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