Affiliated Managers Group, Inc. $AMG Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC cut its holdings in Affiliated Managers Group, Inc. (NYSE:AMG) by 26.6% in the 4th quarter, HoldingsChannel reports. The fund owned 904,119 shares of the asset manager’s stock after selling 328,214 shares during the period. Affiliated Managers Group makes up 6.0% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 2nd largest position. Clarkston Capital Partners LLC’s holdings in Affiliated Managers Group were worth $260,639,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Wells Fargo & Company MN raised its holdings in Affiliated Managers Group by 35.4% in the 4th quarter. Wells Fargo & Company MN now owns 86,038 shares of the asset manager’s stock valued at $24,803,000 after acquiring an additional 22,484 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in Affiliated Managers Group in the 4th quarter valued at $22,292,000. Quadrant Capital Group LLC raised its holdings in Affiliated Managers Group by 1.4% in the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the asset manager’s stock valued at $928,000 after acquiring an additional 46 shares during the last quarter. Brooklyn Investment Group acquired a new position in Affiliated Managers Group in the 4th quarter valued at $266,000. Finally, Index Technologies Group LLC acquired a new position in Affiliated Managers Group in the 4th quarter valued at $397,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $354.55 on Friday. 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 $9.36 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.58 and a beta of 1.13. The firm’s fifty day simple moving average is $302.17 and its 200 day simple moving average is $296.94. Affiliated Managers Group, Inc. has a twelve month low of $179.79 and a twelve month high of $355.55.

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%.

Analyst Ratings Changes

Several analysts have recently issued reports on AMG shares. 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. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen restated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Finally, Barrington Research restated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a report on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $362.29.

Insider Buying and Selling at Affiliated Managers Group

In related news, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the transaction, the director owned 1,092 shares in the company, valued at approximately $333,125.52. The trade was a 75.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction on Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the transaction, the director owned 4,369 shares in the company, valued at $1,311,486.42. The trade was a 18.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,902 shares of company stock worth $7,257,719. Corporate insiders own 2.90% of the company’s stock.

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.