Los Angeles Capital Management LLC Trims Holdings in Affiliated Managers Group, Inc. $AMG

Los Angeles Capital Management LLC trimmed its position in Affiliated Managers Group, Inc. (NYSE:AMG) by 24.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 55,190 shares of the asset manager’s stock after selling 17,775 shares during the period. Los Angeles Capital Management LLC’s holdings in Affiliated Managers Group were worth $15,910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ grew its stake in Affiliated Managers Group by 103.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock worth $4,792,000 after acquiring an additional 10,200 shares during the period. Altfest L J & Co. Inc. purchased a new stake in shares of Affiliated Managers Group during the 4th quarter valued at $1,179,000. Paragon Associates & Paragon Associates II Joint Venture purchased a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at $5,357,000. Oak Thistle LLC grew its stake in shares of Affiliated Managers Group by 194.1% during the 4th quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after buying an additional 5,742 shares during the period. Finally, LSV Asset Management grew its stake in shares of Affiliated Managers Group by 0.7% during the 3rd quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after buying an additional 3,400 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $336.75 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.57 and a beta of 1.13. The firm’s fifty day simple moving average is $295.19 and its 200 day simple moving average is $294.09. Affiliated Managers Group, Inc. has a twelve month low of $179.79 and a twelve month high of $338.07.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.37 EPS. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is presently 0.16%.

Wall Street Analyst Weigh In

AMG has been the subject of several research reports. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Barrington Research reissued an “outperform” rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen reissued a “buy” rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $362.29.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, Director G. Staley Cates bought 1,500 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $305.83 per share, for a total transaction of $458,745.00. Following the acquisition, the director owned 6,405 shares of the company’s stock, valued at $1,958,841.15. The trade was a 30.58% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the acquisition, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. This represents a 61.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.90% of the stock is currently owned by corporate insiders.

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.