LSV Asset Management Sells 6,603 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• LSV Asset Management trimmed its stake in Affiliated Managers Group (AMG) by 1.4% in the fourth quarter, selling 6,603 shares and leaving it with 473,021 shares worth about $136.4 million.
• AMG posted stronger-than-expected quarterly results, with EPS of $8.23 versus the $8.10 consensus and revenue up 9.7% year over year to $544.9 million.
• Analysts remain broadly positive on the stock, with seven Buy ratings and one Hold, and a consensus price target of $362.29; shares last traded around $301.99.

LSV Asset Management reduced its stake in Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 473,021 shares of the asset manager's stock after selling 6,603 shares during the period. LSV Asset Management owned approximately 1.68% of Affiliated Managers Group worth $136,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Global Retirement Partners LLC grew its stake in shares of Affiliated Managers Group by 387.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,043 shares of the asset manager's stock valued at $301,000 after purchasing an additional 829 shares during the period. Leonteq Securities AG bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $30,000. IFP Advisors Inc grew its stake in shares of Affiliated Managers Group by 709.2% in the 4th quarter. IFP Advisors Inc now owns 615 shares of the asset manager's stock valued at $177,000 after purchasing an additional 539 shares during the period. HighTower Advisors LLC grew its stake in shares of Affiliated Managers Group by 17.8% in the 4th quarter. HighTower Advisors LLC now owns 3,182 shares of the asset manager's stock valued at $917,000 after purchasing an additional 481 shares during the period. Finally, Aerodigm Wealth LLC bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $25,585,000. 95.30% of the stock is currently owned by institutional investors.

Insider Activity

In other Affiliated Managers Group news, General Counsel Kavita Padiyar sold 2,200 shares of the company's stock in a transaction on 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 approximately $11,873,057.28. This represents a 4.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G. Staley Cates acquired 1,500 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the acquisition, the director owned 6,405 shares in the company, valued at approximately $1,958,841.15. This represents a 30.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 14,602 shares of company stock worth $4,240,522. 2.90% of the stock is owned by company insiders.

Affiliated Managers Group Stock Down 0.2%

NYSE AMG opened at $301.99 on Friday. The firm has a market cap of $7.98 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.52 and a beta of 1.14. Affiliated Managers Group, Inc. has a one year low of $172.54 and a one year high of $334.78. The stock's 50 day simple moving average is $287.86 and its 200 day simple moving average is $290.00. 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 released its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $544.01 million. During the same period in the prior year, the company earned $5.37 EPS. Affiliated Managers Group's revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 34.31 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Wall Street Analyst Weigh In

AMG has been the topic of a number of research analyst reports. Wall Street Zen lowered Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. The Goldman Sachs Group restated a "buy" rating and set a $405.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Barrington Research restated an "outperform" rating and set a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. TD Cowen restated a "buy" rating and set a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $400.00 price target on shares of Affiliated Managers Group in a research report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Affiliated Managers Group has a consensus rating of "Moderate Buy" and a consensus target price of $362.29.

Affiliated Managers Group 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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