CWC Advisors LLC. Reduces Holdings in Affiliated Managers Group, Inc. $AMG

Key Points

• CWC Advisors LLC cut its stake in Affiliated Managers Group by 26.4%, selling 4,309 shares and leaving 12,000 shares valued at $3.459M (1.7% of its portfolio, the firm's 21st largest holding).
• Analysts are largely positive on AMG: seven give a Buy rating and one a Hold, with an average target of $350.14 and recent raised targets (Goldman $341, Deutsche Bank $408).
• AMG reported an EPS beat ($9.48 vs. $8.75) though revenue slightly missed estimates; the company has a $7.86B market cap, P/E of 12.76, ~95.3% institutional ownership, and recent insider sales by the COO and general counsel.

CWC Advisors LLC. cut its position in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 26.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,000 shares of the asset manager's stock after selling 4,309 shares during the quarter. Affiliated Managers Group accounts for 1.7% of CWC Advisors LLC.'s portfolio, making the stock its 21st largest position. CWC Advisors LLC.'s holdings in Affiliated Managers Group were worth $3,459,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMG shares. The Goldman Sachs Group raised their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the company a "buy" rating in a research note on Tuesday, January 6th. Wall Street Zen lowered Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. TD Cowen restated a "buy" rating on shares of Affiliated Managers Group in a research note on Thursday, April 9th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the company a "buy" rating in a report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $350.14.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG opened at $294.52 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. The firm's 50-day moving average price is $291.72 and its two-hundred day moving average price is $280.13. Affiliated Managers Group, Inc. has a 52-week low of $151.30 and a 52-week high of $334.78. The stock has a market capitalization of $7.86 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.55 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, beating the consensus estimate of $8.75 by $0.73. The company had revenue of $556.60 million during the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business's revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.53 earnings per share. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, February 23rd were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Monday, February 23rd. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.17%.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 8,000 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the completion of the transaction, the chief operating officer 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Kavita Padiyar sold 2,200 shares of the company's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the transaction, the general counsel owned 42,672 shares of the company's stock, valued at $11,873,057.28. This represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.20% 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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