Insider Selling: Affiliated Managers Group (NYSE:AMG) COO Sells 8,000 Shares of Stock

Key Points

• AMG COO Thomas Wojcik sold 8,000 shares on March 6 at an average price of $286.30 for about $2.29 million, trimming his stake by 4.78% to 159,465 shares; the sale was disclosed on an SEC Form 4.
• Affiliated Managers Group beat EPS estimates with $9.48 per share but missed revenue expectations ($556.6M vs. $578.5M), and analysts have raised targets—consensus price target is about $350.14 with mostly Buy ratings.
• The stock traded down 1.3% to $282.01 on the most recent session, with a market cap of $7.52 billion and a P/E of 12.22, sitting in a 52-week range of $139.22–$334.78.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) COO Thomas Wojcik sold 8,000 shares of the company's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $286.30, for a total value of $2,290,400.00. Following the completion of the sale, the chief operating officer directly owned 159,465 shares of the company's stock, valued at $45,654,829.50. The trade was a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Affiliated Managers Group Stock Down 1.3%

AMG traded down $3.76 during trading hours on Monday, reaching $282.01. 457,303 shares of the stock traded hands, compared to its average volume of 430,665. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. The firm's fifty day simple moving average is $309.66 and its two-hundred day simple moving average is $271.42. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.47 and a beta of 1.18. Affiliated Managers Group, Inc. has a fifty-two week low of $139.22 and a fifty-two week high of $334.78.

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

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, February 23rd. Affiliated Managers Group's dividend payout ratio is currently 0.17%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a "buy" rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded Affiliated Managers Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Zacks Research lowered Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 15th. Deutsche Bank Aktiengesellschaft set a $408.00 price target on Affiliated Managers Group and gave the company a "buy" rating in a report on Friday, February 13th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Affiliated Managers Group has an average rating of "Moderate Buy" and a consensus target price of $350.14.

Institutional Trading of Affiliated Managers Group

A number of hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager's stock valued at $26,000 after purchasing an additional 107 shares during the period. Leonteq Securities AG acquired a new stake in shares of Affiliated Managers Group during the 4th quarter worth approximately $30,000. Root Financial Partners LLC acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $33,000. Meeder Asset Management Inc. bought a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at approximately $34,000. Finally, Hantz Financial Services Inc. lifted its holdings 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 valued at $34,000 after acquiring an additional 93 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

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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