Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have been given an average recommendation of “Hold” by the ten brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $185.57.
A number of research firms recently issued reports on AMG. Deutsche Bank dropped their price objective on shares of Affiliated Managers Group from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Citigroup dropped their price objective on shares of Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Barrington Research dropped their price objective on shares of Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating on the stock in a report on Monday, October 29th. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Keefe, Bruyette & Woods raised shares of Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 price target on the stock in a report on Monday, July 30th.
In other news, EVP Hugh Cutler purchased 1,564 shares of the stock in a transaction on Wednesday, October 31st. The shares were acquired at an average price of $115.48 per share, with a total value of $180,610.72. Following the completion of the acquisition, the executive vice president now directly owns 7,087 shares of the company’s stock, valued at $818,406.76. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.91% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of the business. Cornerstone Wealth Management LLC lifted its holdings in shares of Affiliated Managers Group by 24.5% in the third quarter. Cornerstone Wealth Management LLC now owns 28,925 shares of the asset manager’s stock worth $149,000 after buying an additional 5,698 shares in the last quarter. Zions Bancorporation purchased a new position in shares of Affiliated Managers Group in the third quarter worth $170,000. Trust Co. of Toledo NA OH purchased a new position in shares of Affiliated Managers Group in the third quarter worth $202,000. Candriam Luxembourg S.C.A. purchased a new position in shares of Affiliated Managers Group in the third quarter worth $204,000. Finally, Alta Capital Management LLC purchased a new position in shares of Affiliated Managers Group in the third quarter worth $227,000. 93.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of AMG traded down $1.76 on Monday, reaching $115.24. The company’s stock had a trading volume of 400,918 shares, compared to its average volume of 659,784. The company has a current ratio of 0.49, a quick ratio of 0.42 and a debt-to-equity ratio of 0.07. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.65 and a beta of 1.53. Affiliated Managers Group has a 12-month low of $110.27 and a 12-month high of $216.99.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, October 29th. The asset manager reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.03. The company had revenue of $601.30 million for the quarter, compared to the consensus estimate of $604.82 million. Affiliated Managers Group had a net margin of 29.38% and a return on equity of 19.37%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.41 earnings per share. As a group, analysts predict that Affiliated Managers Group will post 14.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Thursday, November 8th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, November 7th. Affiliated Managers Group’s dividend payout ratio is currently 8.22%.
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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