Affiliated Managers Group, Inc. (NYSE:AMG) Director Jide James Zeitlin sold 54,350 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $92.22, for a total value of $5,012,157.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of AMG traded up $0.45 during midday trading on Friday, hitting $88.37. The company had a trading volume of 335,584 shares, compared to its average volume of 459,381. The company has a 50-day moving average price of $88.96. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 6.09, a P/E/G ratio of 0.64 and a beta of 1.63. Affiliated Managers Group, Inc. has a 1 year low of $83.10 and a 1 year high of $163.55.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, May 6th. The asset manager reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.27 by ($0.01). The business had revenue of $543.10 million for the quarter, compared to analyst estimates of $541.42 million. Affiliated Managers Group had a positive return on equity of 17.72% and a negative net margin of 4.77%. Affiliated Managers Group’s revenue was down 11.3% on a year-over-year basis. During the same period last year, the business posted $3.92 EPS. Equities analysts predict that Affiliated Managers Group, Inc. will post 13.71 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in Affiliated Managers Group by 0.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,179,673 shares of the asset manager’s stock worth $126,354,000 after buying an additional 7,655 shares during the period. Bank of Nova Scotia increased its position in Affiliated Managers Group by 332.7% during the fourth quarter. Bank of Nova Scotia now owns 40,701 shares of the asset manager’s stock worth $3,965,000 after buying an additional 31,295 shares during the period. Norges Bank acquired a new position in Affiliated Managers Group during the fourth quarter worth approximately $45,931,000. Dimensional Fund Advisors LP increased its position in Affiliated Managers Group by 15.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 344,237 shares of the asset manager’s stock worth $33,541,000 after buying an additional 46,000 shares during the period. Finally, Prudential Financial Inc. increased its position in Affiliated Managers Group by 38.0% during the fourth quarter. Prudential Financial Inc. now owns 148,218 shares of the asset manager’s stock worth $14,442,000 after buying an additional 40,803 shares during the period. 94.63% of the stock is currently owned by institutional investors.
About Affiliated Managers Group
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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