Affiliated Managers Group, Inc. (NYSE:AMG) Stock Now Rated “Buy” by Sell-Side Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) has been given a consensus rating of “Buy” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $379.14.

Several analysts have commented on the stock. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research note on Friday, July 31st. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. TD Cowen reaffirmed a “buy” rating and issued a $512.00 target price on shares of Affiliated Managers Group in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a report on Tuesday, September 22nd. Finally, Wall Street Zen downgraded 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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. bought a new stake in Affiliated Managers Group in the second quarter worth $225,000. Tidal Investments LLC lifted its position in Affiliated Managers Group by 129.8% during the second 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 during the last quarter. Engineers Gate Manager LP lifted its position in Affiliated Managers Group by 161.4% during the second quarter. Engineers Gate Manager LP now owns 51,861 shares of the asset manager’s stock valued at $17,550,000 after purchasing an additional 32,023 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Affiliated Managers Group in the 2nd quarter worth $61,000. Finally, Squarepoint Ops LLC grew its stake in shares of Affiliated Managers Group by 131.7% in the 2nd quarter. Squarepoint Ops LLC now owns 17,642 shares of the asset manager’s stock worth $5,970,000 after buying an additional 10,029 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Up 0.7%

Affiliated Managers Group stock opened at $370.77 on Wednesday. The stock has a market cap of $9.59 billion, a P/E ratio of 12.84, a PEG ratio of 0.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. Affiliated Managers Group has a 1 year low of $230.10 and a 1 year high of $392.92. The firm’s 50 day moving average price is $363.43 and its 200-day moving average price is $330.83.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last released its earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping the consensus estimate of $7.90 by $0.39. The firm had revenue of $640.70 million for 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 quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.39 earnings per share. On average, equities analysts predict that Affiliated Managers Group will post 36.69 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is presently 0.14%.

About Affiliated Managers Group

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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