Corient Private Wealth LP Trims Stake in Affiliated Managers Group, Inc. $AMG

Key Points

• Corient Private Wealth LP cut its Affiliated Managers Group stake by 23.5% in the second quarter, selling 7,545 shares and retaining 24,591 shares valued at approximately $8.3 million.
• AMG reported quarterly EPS of $8.29, exceeding the $7.90 consensus estimate, while revenue reached $640.7 million versus expectations of $590.94 million.
• Analysts maintain a consensus “Buy” rating with an average price target of $370.86, compared with the stock’s reported price of $352.51.

Corient Private Wealth LP decreased its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 23.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,591 shares of the asset manager's stock after selling 7,545 shares during the quarter. Corient Private Wealth LP owned 0.10% of Affiliated Managers Group worth $8,321,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AMG. N.E.W. Advisory Services LLC purchased a new position in shares of Affiliated Managers Group during the second quarter worth approximately $25,000. Leonteq Securities AG bought a new position in Affiliated Managers Group in the fourth quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd purchased a new position in Affiliated Managers Group during the 4th quarter worth $42,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Affiliated Managers Group during the 2nd quarter worth $48,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock worth $50,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

AMG opened at $352.51 on Friday. Affiliated Managers Group, Inc. has a 52-week low of $230.10 and a 52-week high of $392.92. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $9.12 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 0.46 and a beta of 1.10. The firm's 50-day moving average price is $363.31 and its 200-day moving average price is $326.78.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.39 earnings per share. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group's dividend payout ratio is currently 0.14%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AMG. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Finally, Wall Street Zen lowered Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $370.86.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc NYSE: AMG is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG's affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.

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