Millennium Management LLC Sells 221,103 Shares of Affiliated Managers Group, Inc. $AMG

Millennium Management LLC reduced its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 21.7% in the 4th quarter, HoldingsChannel reports. The firm owned 796,010 shares of the asset manager’s stock after selling 221,103 shares during the period. Millennium Management LLC’s holdings in Affiliated Managers Group were worth $229,474,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ lifted its holdings in Affiliated Managers Group by 103.0% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock valued at $4,792,000 after purchasing an additional 10,200 shares during the last quarter. Altfest L J & Co. Inc. bought a new position in shares of Affiliated Managers Group in the fourth quarter worth about $1,179,000. Oak Thistle LLC raised its stake in shares of Affiliated Managers Group by 194.1% in the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock worth $2,508,000 after acquiring an additional 5,742 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Affiliated Managers Group in the third quarter worth about $5,357,000. Finally, Chase Investment Counsel Corp bought a new position in shares of Affiliated Managers Group in the fourth quarter worth about $4,962,000. 95.30% of the stock is owned by institutional investors.

Insider Activity at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group 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 sale, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. The trade was a 7.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the sale, the director owned 4,369 shares of the company’s stock, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,902 shares of company stock worth $7,257,719 over the last 90 days. Insiders own 2.90% of the company’s stock.

Affiliated Managers Group Trading Down 0.3%

Shares of NYSE AMG opened at $356.35 on Thursday. Affiliated Managers Group, Inc. has a 1-year low of $179.79 and a 1-year high of $363.89. The company has a market cap of $9.41 billion, a PE ratio of 14.42, a P/E/G ratio of 0.60 and a beta of 1.13. 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 company has a 50-day moving average of $307.53 and a two-hundred day moving average of $299.04.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping 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 company had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. During the same quarter in the previous year, the company earned $5.37 EPS. Affiliated Managers Group’s revenue was up 9.7% on a year-over-year basis. As a group, equities analysts expect that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were given 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 currently 0.16%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMG. 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. 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. 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. 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, 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. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $362.29.

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.