Private Client Services LLC Sells 2,010 Shares of Affiliated Managers Group, Inc. $AMG

Private Client Services LLC trimmed its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) by 35.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,649 shares of the asset manager’s stock after selling 2,010 shares during the period. Private Client Services LLC’s holdings in Affiliated Managers Group were worth $1,235,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AMG. Goldman Sachs Group Inc. raised its stake in shares of Affiliated Managers Group by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after acquiring an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Affiliated Managers Group by 4.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock valued at $23,815,000 after purchasing an additional 6,262 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Affiliated Managers Group in the 1st quarter valued at $1,947,000. American Century Companies Inc. grew its holdings in shares of Affiliated Managers Group by 1.2% during the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after purchasing an additional 104 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Affiliated Managers Group by 89.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after purchasing an additional 133 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 3.9%

Shares of NYSE AMG opened at $381.16 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group, Inc. has a 52 week low of $208.22 and a 52 week high of $384.11. The firm’s fifty day moving average is $347.48 and its 200 day moving average is $315.50. The company has a market cap of $10.07 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.56 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Wednesday, July 29th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.39 EPS. On average, equities research analysts expect that Affiliated Managers Group, Inc. will post 35.64 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be paid 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 is Monday, August 10th. Affiliated Managers Group’s dividend payout ratio is 0.14%.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, Director Annette Franqui purchased 750 shares of Affiliated Managers Group stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the acquisition, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director G. Staley Cates purchased 1,500 shares of the stock in a transaction on Wednesday, May 6th. The shares were acquired at an average cost of $305.83 per share, with a total value of $458,745.00. Following the transaction, the director directly owned 6,405 shares in the company, valued at $1,958,841.15. The trade was a 30.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 21,902 shares of company stock valued at $7,257,719 in the last quarter. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a research note on Friday. TD Cowen reiterated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. The Goldman Sachs Group reissued 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 upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $370.86.

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.