Affiliated Managers Group, Inc. (NYSE:AMG) CEO Jay C. Horgen Sells 9,000 Shares

Affiliated Managers Group, Inc. (NYSE:AMG) CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG opened at $170.19 on Wednesday. Affiliated Managers Group, Inc. has a 52 week low of $120.22 and a 52 week high of $189.81. The company has a market capitalization of $5.42 billion, a PE ratio of 9.44, a PEG ratio of 0.62 and a beta of 1.22. The company has a 50 day moving average price of $163.85 and a two-hundred day moving average price of $161.12.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.60 by $0.07. The company had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.45 earnings per share. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 21.82 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend is Thursday, August 8th. Affiliated Managers Group’s payout ratio is 0.22%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Lindbrook Capital LLC raised its position in shares of Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $28,000. Denali Advisors LLC boosted its position in Affiliated Managers Group by 429.2% during the 1st quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after buying an additional 206 shares during the period. Daiwa Securities Group Inc. acquired a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $47,000. Finally, Goodman Advisory Group LLC bought a new position in Affiliated Managers Group during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMG shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Bank of America boosted their price target on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen boosted their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, Barrington Research boosted their price target on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.80.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.