Shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $384.11 and last traded at $381.16, with a volume of 197899 shares traded. The stock had previously closed at $366.73.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on AMG shares. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. TD Cowen reaffirmed a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research report on Friday. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $370.86.
Check Out Our Latest Stock Analysis on Affiliated Managers Group
Affiliated Managers Group Trading Down 1.3%
Affiliated Managers Group (NYSE:AMG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The business had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. During the same period in the previous year, the company posted $5.39 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts anticipate that Affiliated Managers Group, Inc. will post 35.71 EPS for the current fiscal year.
Affiliated Managers Group Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.14%.
Insider Activity
In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the transaction, the chief executive officer directly owned 204,706 shares in the company, valued at approximately $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the transaction, the director owned 4,369 shares of the company’s stock, valued at approximately $1,311,486.42. This trade represents a 18.63% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by corporate insiders.
Institutional Trading of Affiliated Managers Group
A number of institutional investors have recently bought and sold shares of AMG. Oak Thistle LLC grew its position in Affiliated Managers Group by 194.1% in the 4th quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after purchasing an additional 5,742 shares during the period. Altfest L J & Co. Inc. acquired a new position in Affiliated Managers Group during the fourth quarter worth $1,179,000. Fisher Asset Management LLC lifted its stake in shares of Affiliated Managers Group by 19.7% in the fourth quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock valued at $70,291,000 after buying an additional 40,107 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Affiliated Managers Group by 20.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock valued at $7,149,000 after buying an additional 4,258 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Affiliated Managers Group by 5.2% during the first quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock valued at $29,787,000 after buying an additional 5,357 shares during 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.
Recommended Stories
- Five stocks we like better than Affiliated Managers Group
- Ulta’s Growth Is Real, But So Are the Risks
- BWX Technologies Is Turning the AI Power Problem Into a Nuclear Growth Story
- Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth
- AMD’s Post-Earnings Drop May Be the Opportunity Investors Wanted
Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.
