Hsbc Holdings PLC Sells 4,266 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• HSBC Holdings reduced its Affiliated Managers Group stake by 45.7% in the second quarter, selling 4,266 shares and retaining 5,078 shares valued at approximately $1.734 million.
• Institutional ownership remains high at 95.3%, with several investors—including Goldman Sachs, UBS Asset Management, American Century, and EverSource Wealth Advisors—adding to their positions.
• AMG reported quarterly EPS of $8.29, beating estimates of $7.90, while revenue of $640.7 million also exceeded expectations. Analysts maintain a “Buy” consensus with an average price target of $370.86.

Hsbc Holdings PLC lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 45.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,078 shares of the asset manager's stock after selling 4,266 shares during the period. Hsbc Holdings PLC's holdings in Affiliated Managers Group were worth $1,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Affiliated Managers Group by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager's stock worth $19,047,000 after purchasing an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager's stock valued at $23,815,000 after buying an additional 6,262 shares during the period. Jane Street Group LLC acquired a new position in Affiliated Managers Group during the first quarter worth $1,947,000. American Century Companies Inc. lifted its holdings in Affiliated Managers Group by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager's stock worth $1,683,000 after buying an additional 104 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings 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 acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Up 0.3%

Affiliated Managers Group stock opened at $355.56 on Friday. The company has a 50 day moving average of $364.21 and a 200-day moving average of $325.41. The stock has a market capitalization of $9.19 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a twelve month low of $230.10 and a twelve month high of $392.92.

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

Affiliated Managers Group Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Affiliated Managers Group Company 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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