Crossmark Global Holdings Inc. Acquires Shares of 6,127 Affiliated Managers Group, Inc. $AMG

Key Points

• Crossmark Global Holdings disclosed a new fourth-quarter stake in Affiliated Managers Group, buying 6,127 shares valued at about $1.77 million.
• Insider selling continued at AMG, with COO Thomas M. Wojcik and General Counsel Kavita Padiyar selling shares worth a combined over $2.9 million in March.
• AMG reported better-than-expected Q1 results, including EPS of $8.23 versus $8.10 expected, while analysts remain mostly positive with a Moderate Buy consensus and a $362.29 price target.

Crossmark Global Holdings Inc. acquired a new stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,127 shares of the asset manager's stock, valued at approximately $1,766,000.

Other institutional investors have also bought and sold shares of the company. Root Financial Partners LLC bought a new position in Affiliated Managers Group during the third quarter valued at $33,000. Meeder Asset Management Inc. bought a new position in Affiliated Managers Group during the third quarter valued at $34,000. Hantz Financial Services Inc. raised its position in Affiliated Managers Group by 189.8% during 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. Millstone Evans Group LLC raised its position in Affiliated Managers Group by 41.9% during the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager's stock valued at $42,000 after purchasing an additional 52 shares during the period. Finally, Global Retirement Partners LLC raised its position in Affiliated Managers Group by 1,237.5% during the third quarter. Global Retirement Partners LLC now owns 214 shares of the asset manager's stock valued at $51,000 after purchasing an additional 198 shares during the period. Institutional investors own 95.30% of the company's stock.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 8,000 shares of Affiliated Managers Group stock in a transaction on 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 in the company, valued at approximately $45,654,829.50. This trade represents a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of Affiliated Managers Group stock in a transaction on Monday, March 9th. The stock was sold at an average price of $278.24, for a total value of $612,128.00. Following the sale, the general counsel owned 42,672 shares of the company's stock, valued at approximately $11,873,057.28. This trade represents a 4.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 14,602 shares of company stock valued at $4,240,522. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AMG shares. Weiss Ratings restated a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Wall Street Zen downgraded Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. TD Cowen cut their price objective on shares of Affiliated Managers Group to $454.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $362.29.

Affiliated Managers Group Stock Up 0.2%

Shares of NYSE:AMG opened at $301.93 on Wednesday. Affiliated Managers Group, Inc. has a 1 year low of $172.54 and a 1 year high of $334.78. The business has a 50 day simple moving average of $287.06 and a two-hundred day simple moving average of $286.95. The firm has a market capitalization of $7.97 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 0.52 and a beta of 1.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. During the same quarter in the previous year, the business earned $5.37 earnings per share. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts predict that Affiliated Managers Group, Inc. will post 34.23 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Monday, May 11th. Affiliated Managers Group's payout ratio is 0.16%.

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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