UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 28,602 Shares of Affiliated Managers Group, Inc. $AMG

Key Points

• UBS Asset Management reduced its Affiliated Managers Group stake by 27.6% in the second quarter, selling 28,602 shares and retaining 74,871 shares valued at approximately $25.3 million. Institutional investors collectively own 95.3% of AMG.
• AMG reported quarterly earnings of $8.29 per share, beating estimates of $7.90, while revenue reached $640.7 million versus the $590.9 million consensus estimate.
• Shares opened at $363.40, near the analyst consensus target of $370.86. Analysts maintain an overall “Buy” rating, while the company declared a quarterly dividend of $0.01 per share.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 27.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 74,871 shares of the asset manager's stock after selling 28,602 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.29% of Affiliated Managers Group worth $25,336,000 at the end of the most recent quarter.

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

Insider Activity

In other news, CEO Jay C. Horgen sold 17,500 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the transaction, the chief executive officer directly owned 204,706 shares in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by insiders.

Affiliated Managers Group Trading Up 1.9%

Shares of Affiliated Managers Group stock opened at $363.40 on Friday. The firm's 50 day simple moving average is $361.85 and its two-hundred day simple moving average is $323.65. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.48 and a beta of 1.10. Affiliated Managers Group, Inc. has a 12-month low of $228.52 and a 12-month high of $392.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76.

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. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. During the same period in the previous year, the firm posted $5.39 earnings per share. The business's revenue for the quarter was up .0% compared to the same quarter last year. Analysts predict that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Analyst Ratings Changes

Several brokerages have issued reports on AMG. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research report on Friday, July 31st. Wall Street Zen lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. TD Cowen restated a "buy" rating and issued a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat, Affiliated Managers Group currently has an average rating of "Buy" and an average target price of $370.86.

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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