Shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $374.94 and last traded at $381.5150, with a volume of 2083 shares. The stock had previously closed at $359.78.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on AMG. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Barrington Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a report on Monday, April 27th. Finally, TD Cowen reissued a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and an average price target of $362.29.
Read Our Latest Analysis on AMG
Affiliated Managers Group Price Performance
Affiliated Managers Group (NYSE:AMG – Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The firm had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $5.37 earnings per share. As a group, equities analysts forecast that Affiliated Managers Group, Inc. will post 35.37 EPS for the current year.
Affiliated Managers Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Monday, May 11th. Affiliated Managers Group’s payout ratio is 0.16%.
Insiders Place Their Bets
In other news, Director David Christopher Ryan sold 3,402 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the transaction, the director directly owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. This trade represents a 75.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction dated Monday, June 1st. The shares were bought at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the transaction, the director owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. This trade represents a 61.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of AMG. Boston Partners raised its position in Affiliated Managers Group by 2.1% during the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after purchasing an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Affiliated Managers Group by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock worth $198,746,000 after buying an additional 18,865 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in shares of Affiliated Managers Group by 20.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock valued at $197,641,000 after buying an additional 115,313 shares during the period. Geode Capital Management LLC increased its stake in shares of Affiliated Managers Group by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock valued at $158,916,000 after buying an additional 41,322 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Affiliated Managers Group by 8.5% in the fourth quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager’s stock valued at $122,994,000 after acquiring an additional 33,488 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.
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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