Affiliated Managers Group, Inc. (NYSE:AMG) Given Consensus Rating of “Buy” by Brokerages

Affiliated Managers Group, Inc. (NYSE:AMGGet Rating) has been assigned a consensus rating of “Buy” from the seven brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $202.00.

A number of equities analysts recently issued reports on AMG shares. Barrington Research lowered their price target on Affiliated Managers Group from $190.00 to $160.00 in a report on Monday, May 2nd. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price objective on Affiliated Managers Group from $162.00 to $152.00 in a report on Thursday. Finally, Citigroup lowered their price objective on Affiliated Managers Group from $241.00 to $222.00 in a report on Tuesday, May 3rd.

Shares of AMG traded up $2.82 during midday trading on Friday, reaching $127.35. 228,245 shares of the stock were exchanged, compared to its average volume of 269,258. Affiliated Managers Group has a twelve month low of $116.12 and a twelve month high of $191.62. The business’s 50-day moving average price is $134.13 and its 200 day moving average price is $149.30. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.69 and a beta of 1.33.

Affiliated Managers Group (NYSE:AMGGet Rating) last released its quarterly earnings results on Monday, May 2nd. The asset manager reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.33. Affiliated Managers Group had a return on equity of 22.99% and a net margin of 22.84%. The firm had revenue of $607.30 million for the quarter, compared to analyst estimates of $662.80 million. During the same quarter last year, the company posted $4.28 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts expect that Affiliated Managers Group will post 18.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 26th. Stockholders of record on Thursday, May 12th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, May 11th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.30%.

In other news, Director Tracy P. Palandjian purchased 3,700 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were acquired at an average price of $137.67 per share, with a total value of $509,379.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in shares of Affiliated Managers Group by 17.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,870 shares of the asset manager’s stock worth $2,378,000 after purchasing an additional 2,516 shares during the last quarter. Jane Street Group LLC raised its position in shares of Affiliated Managers Group by 19.0% during the 1st quarter. Jane Street Group LLC now owns 10,462 shares of the asset manager’s stock worth $1,475,000 after purchasing an additional 1,669 shares during the last quarter. KB Financial Partners LLC raised its position in shares of Affiliated Managers Group by 18.7% during the 1st quarter. KB Financial Partners LLC now owns 3,260 shares of the asset manager’s stock worth $459,000 after purchasing an additional 514 shares during the last quarter. Polar Capital Holdings Plc raised its position in shares of Affiliated Managers Group by 10.6% during the 1st quarter. Polar Capital Holdings Plc now owns 158,104 shares of the asset manager’s stock worth $22,285,000 after purchasing an additional 15,092 shares during the last quarter. Finally, Prana Capital Management LP raised its position in shares of Affiliated Managers Group by 125.7% during the 1st quarter. Prana Capital Management LP now owns 111,045 shares of the asset manager’s stock worth $15,652,000 after purchasing an additional 61,846 shares during the last quarter. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Affiliated Managers Group Company Profile (Get Rating)

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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