TD Cowen restated their buy rating on shares of Affiliated Managers Group (NYSE:AMG – Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $454.00 price objective on the asset manager’s stock.
A number of other equities analysts have also recently weighed in on AMG. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Barrington Research reiterated an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and an average target price of $362.29.
Affiliated Managers Group Stock Up 0.7%
Affiliated Managers Group (NYSE:AMG – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The firm had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.Affiliated Managers Group’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.37 EPS. As a group, sell-side analysts predict that Affiliated Managers Group will post 34.23 EPS for the current fiscal year.
Affiliated Managers Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Monday, May 11th will be given 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, May 11th. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.
Insider Buying and Selling at Affiliated Managers Group
In related news, COO Thomas M. Wojcik sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the sale, the chief operating officer directly owned 159,465 shares of the company’s stock, valued at approximately $45,654,829.50. This represents a 4.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director G. Staley Cates bought 1,500 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the transaction, the director directly owned 6,405 shares of the company’s stock, valued at $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 14,602 shares of company stock worth $4,240,522. 2.90% of the stock is owned by insiders.
Institutional Investors Weigh In On Affiliated Managers Group
Large investors have recently added to or reduced their stakes in the stock. Carrera Capital Advisors acquired a new stake in Affiliated Managers Group in the third quarter worth $4,295,000. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Affiliated Managers Group by 103.0% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock worth $4,792,000 after purchasing an additional 10,200 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Affiliated Managers Group by 14.6% in the third quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock worth $93,741,000 after purchasing an additional 50,219 shares in the last quarter. Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Affiliated Managers Group in the third quarter worth $5,357,000. Finally, Altfest L J & Co. Inc. bought a new position in shares of Affiliated Managers Group in the fourth quarter worth $1,179,000. 95.30% of the stock is owned by institutional investors and hedge funds.
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.
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