Affiliated Managers Group (NYSE:AMG) Price Target Raised to $295.00 at Barrington Research

Affiliated Managers Group (NYSE:AMG) had its target price lifted by Barrington Research from $285.00 to $295.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

Several other research analysts also recently commented on AMG. Wall Street Zen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Bank of America increased their price objective on Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. Finally, The Goldman Sachs Group boosted their price objective on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus price target of $278.57.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $251.78 on Tuesday. The business has a fifty day moving average price of $237.21 and a 200 day moving average price of $208.44. Affiliated Managers Group has a one year low of $139.22 and a one year high of $256.81. The company has a market cap of $7.15 billion, a P/E ratio of 18.38, a P/E/G ratio of 0.61 and a beta of 1.21.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating the consensus estimate of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm had revenue of $528.00 million during the quarter, compared to the consensus estimate of $543.39 million. During the same period in the prior year, the company earned $4.82 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.29%.

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds have recently modified their holdings of AMG. Envestnet Asset Management Inc. raised its holdings in Affiliated Managers Group by 18.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock valued at $9,028,000 after buying an additional 8,361 shares during the period. Private Trust Co. NA increased its position in shares of Affiliated Managers Group by 38.1% during the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after acquiring an additional 83 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Affiliated Managers Group by 189.9% in the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager’s stock valued at $2,469,000 after acquiring an additional 9,626 shares during the period. Voya Investment Management LLC raised its stake in shares of Affiliated Managers Group by 52.2% in the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock valued at $4,823,000 after acquiring an additional 9,845 shares during the period. Finally, Goodman Financial Corp lifted its holdings in shares of Affiliated Managers Group by 1.6% in the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock worth $13,578,000 after acquiring an additional 1,301 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.