Insider Selling: Affiliated Managers Group (NYSE:AMG) CEO Sells $5,919,725.00 in Stock

Affiliated Managers Group, Inc. (NYSE:AMG) CEO Jay Horgen sold 17,500 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the transaction, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Affiliated Managers Group Trading Down 2.0%

Shares of NYSE AMG opened at $335.33 on Thursday. The company’s 50 day simple moving average is $299.19 and its 200 day simple moving average is $295.91. Affiliated Managers Group, Inc. has a fifty-two week low of $179.79 and a fifty-two week high of $348.15. The firm has a market capitalization of $8.86 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.58 and a beta of 1.13. 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) last issued its earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, beating the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same quarter in the prior year, the firm earned $5.37 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts predict that Affiliated Managers Group, Inc. will post 34.71 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Institutional Investors Weigh In On Affiliated Managers Group

Several large investors have recently made changes to their positions in the stock. Captrust Financial Advisors increased its position in shares of Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after acquiring an additional 34 shares in the last quarter. AlphaCore Capital LLC increased its position in shares of Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after acquiring an additional 36 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Affiliated Managers Group by 4.3% during the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after acquiring an additional 42 shares in the last quarter. Allworth Financial LP increased its position in shares of Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after acquiring an additional 45 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its position in shares of Affiliated Managers Group by 2.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMG. TD Cowen reaffirmed a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research reaffirmed an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $362.29.

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.