Affiliated Managers Group, Inc. (NYSE:AMG – Get Free Report)’s share price reached a new 52-week high during trading on Thursday. The company traded as high as $393.42 and last traded at $391.2450, with a volume of 168493 shares traded. The stock had previously closed at $377.09.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. TD Cowen reissued a “buy” rating and set a $512.00 target price on shares of Affiliated Managers Group in a report on Tuesday, September 29th. Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Tuesday, September 22nd. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Finally, Barrington Research set a $425.00 target price on Affiliated Managers Group in a report on Friday, July 31st. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.50.
Check Out Our Latest Research Report on AMG
Affiliated Managers Group Stock Performance
Affiliated Managers Group (NYSE:AMG – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The company had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.39 EPS. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 36.75 earnings per share for the current year.
Affiliated Managers Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, August 10th. Affiliated Managers Group’s dividend payout ratio is currently 0.14%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Private Client Services LLC boosted its stake in Affiliated Managers Group by 1.2% during the 3rd quarter. Private Client Services LLC now owns 3,693 shares of the asset manager’s stock valued at $1,350,000 after purchasing an additional 44 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Affiliated Managers Group by 7.0% in the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the asset manager’s stock valued at $200,000 after acquiring an additional 36 shares during the last quarter. QRG Capital Management Inc. bought a new position in shares of Affiliated Managers Group during the 2nd quarter valued at about $225,000. Tidal Investments LLC boosted its position in shares of Affiliated Managers Group by 129.8% during the 2nd quarter. Tidal Investments LLC now owns 6,355 shares of the asset manager’s stock valued at $2,151,000 after purchasing an additional 3,589 shares in the last quarter. Finally, Engineers Gate Manager LP grew its stake in shares of Affiliated Managers Group by 161.4% in the 2nd quarter. Engineers Gate Manager LP now owns 51,861 shares of the asset manager’s stock worth $17,550,000 after purchasing an additional 32,023 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.
Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.
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