Affiliated Managers Group, Inc. $AMG Stock Position Lessened by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 14.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,344 shares of the asset manager’s stock after selling 1,591 shares during the period. Hsbc Holdings PLC’s holdings in Affiliated Managers Group were worth $2,607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AMG. Leonteq Securities AG bought a new position in Affiliated Managers Group in the 4th quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Affiliated Managers Group during the 4th quarter worth about $42,000. EverSource Wealth Advisors LLC lifted its stake in shares of Affiliated Managers Group by 89.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock worth $55,000 after acquiring an additional 133 shares during the period. Arax Advisory Partners boosted its holdings in shares of Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 96 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Affiliated Managers Group by 676.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 233 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 203 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Rodriguez Felix V. Matos sold 1,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $300.18, for a total value of $300,180.00. Following the completion of the transaction, the director owned 4,369 shares in the company, valued at $1,311,486.42. This trade represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total value of $1,037,814.12. Following the completion of the transaction, the director directly owned 1,092 shares in the company, valued at $333,125.52. This represents a 75.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,902 shares of company stock worth $7,257,719 over the last three months. Company insiders own 2.90% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE AMG opened at $357.38 on Friday. The stock has a market capitalization of $9.44 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.55 and a beta of 1.12. Affiliated Managers Group, Inc. has a 1 year low of $200.00 and a 1 year high of $382.75. The business’s fifty day moving average is $339.24 and its two-hundred day moving average is $312.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The company’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $5.37 EPS. On average, research analysts forecast that Affiliated Managers Group, Inc. will post 35.48 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMG shares. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research reaffirmed an “outperform” rating and set 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 set a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average target price of $362.29.

Affiliated Managers Group 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.