Affiliated Managers Group, Inc. (NYSE:AMG) Receives Average Rating of “Buy” from Brokerages

Affiliated Managers Group, Inc. (NYSE:AMGGet Free Report) has earned a consensus rating of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $370.8571.

AMG has been the topic of several recent research reports. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a research note on Friday, July 31st. TD Cowen restated a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th.

Check Out Our Latest Stock Report on Affiliated Managers Group

Insider Activity at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at $25,000. Leonteq Securities AG purchased a new position in Affiliated Managers Group in the fourth quarter worth $30,000. Caitong International Asset Management Co. Ltd bought a new position in Affiliated Managers Group in the fourth quarter valued at $42,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Affiliated Managers Group during the second quarter valued at about $48,000. Finally, EverSource Wealth Advisors LLC raised its position in Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE AMG opened at $370.83 on Friday. The company has a market cap of $9.59 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.50 and a beta of 1.10. Affiliated Managers Group has a 52 week low of $228.52 and a 52 week high of $392.92. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $362.42 and its two-hundred day simple moving average is $323.98.

Affiliated Managers Group (NYSE:AMGGet Free Report) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping the consensus estimate of $7.90 by $0.39. The firm had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the company earned $5.39 earnings per share. Research analysts predict that Affiliated Managers Group will post 36.69 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Monday, August 10th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.14%.

About Affiliated Managers Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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