Cambria Investment Management L.P. Cuts Position in Affiliated Managers Group, Inc. $AMG

Key Points

• Cambria Investment Management slashed its stake in Affiliated Managers Group by 97.7% in Q3, selling 55,906 shares and leaving 1,326 shares valued at about $316,000.
• Insider selling: COO Thomas Wojcik sold 8,000 shares at $286.30 and General Counsel Kavita Padiyar sold 2,200 shares at $278.24, with insiders now owning about 4.20% of the company.
• Financials and analyst stance: AMG beat EPS expectations ($9.48 vs. $8.75) but missed revenue estimates, has a market cap around $7.43 billion and a P/E of ~12.1, and carries a "Moderate Buy" consensus with a $350.14 average price target.

Cambria Investment Management L.P. trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 97.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,326 shares of the asset manager's stock after selling 55,906 shares during the period. Cambria Investment Management L.P.'s holdings in Affiliated Managers Group were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Carrera Capital Advisors purchased a new position in Affiliated Managers Group in the third quarter valued at about $4,295,000. Allianz Asset Management GmbH boosted its position in shares of Affiliated Managers Group by 14.6% in the third quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager's stock worth $93,741,000 after buying an additional 50,219 shares during the period. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Affiliated Managers Group by 103.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager's stock valued at $4,792,000 after buying an additional 10,200 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new stake in shares of Affiliated Managers Group in the third quarter valued at about $2,673,000. Finally, Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at about $5,357,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. TD Cowen reaffirmed a "buy" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. 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. Zacks Research cut shares of Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 15th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 target price on shares of Affiliated Managers Group and gave the company a "buy" rating in a research note on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $350.14.

Insider Activity

In other news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $286.30, for a total value of $2,290,400.00. Following the completion of the transaction, the chief operating officer directly owned 159,465 shares of the company's stock, valued at approximately $45,654,829.50. The trade was a 4.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the business's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the sale, the general counsel directly owned 42,672 shares of the company's stock, valued at approximately $11,873,057.28. This represents a 4.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.20% of the company's stock.

Affiliated Managers Group Price Performance

Shares of NYSE AMG opened at $278.47 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.47 and a beta of 1.18. Affiliated Managers Group, Inc. has a twelve month low of $139.22 and a twelve month high of $334.78. The business has a 50 day simple moving average of $305.58 and a 200-day simple moving average of $274.27.

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

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, February 23rd were given 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 was Monday, February 23rd. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.17%.

Affiliated Managers Group Company 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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