Affiliated Managers Group (NYSE:AMG) Hits New 52-Week High – Still a Buy?

Affiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) shares reached a new 52-week high on Wednesday. The stock traded as high as $396.02 and last traded at $393.8450, with a volume of 29,042 shares trading hands. The stock had previously closed at $388.75.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMG shares. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Weiss Ratings upgraded Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. TD Cowen raised their price objective on Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $388.33.

View Our Latest Research Report on AMG

Affiliated Managers Group Trading Up 0.4%

The firm has a market cap of $10.22 billion, a PE ratio of 13.69, a P/E/G ratio of 0.50 and a beta of 1.07. 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 company’s 50 day moving average price is $368.85 and its two-hundred day moving average price is $343.73.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last released its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) 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 analyst estimates of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $5.39 EPS. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 36.87 EPS for the current year.

Institutional Trading of Affiliated Managers Group

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Affiliated Managers Group during the second quarter valued at approximately $938,294,000. Bank of America Corp DE bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $146,331,000. Bank of New York Mellon Corp bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $95,418,000. Bruni J V & Co. Co. purchased a new position in Affiliated Managers Group during the 2nd quarter valued at $71,095,810. Finally, Kiltearn Partners LLP purchased a new position in Affiliated Managers Group during the 2nd quarter valued at $62,464,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

(Get Free Report)

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.

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