Affiliated Managers Group, Inc. (NYSE:AMG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $328.6667.

Several research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. TD Cowen increased their price objective on shares of Affiliated Managers Group to $485.00 and gave the company a “buy” rating in a report on Monday, December 15th. UBS Group set a $295.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Barrington Research increased their price target on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday.

Institutional Trading of Affiliated Managers Group

A number of hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Affiliated Managers Group by 428.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 107 shares during the period. Root Financial Partners LLC acquired a new position in shares of Affiliated Managers Group in the 3rd quarter valued at $33,000. Meeder Asset Management Inc. bought a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at $34,000. Hantz Financial Services Inc. raised its stake in Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after buying an additional 93 shares during the period. Finally, Millstone Evans Group LLC lifted its holdings in Affiliated Managers Group by 41.9% during the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after acquiring an additional 52 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Up 1.5%

NYSE:AMG opened at $279.05 on Monday. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.62 and a beta of 1.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s fifty day moving average price is $257.18 and its two-hundred day moving average price is $229.86. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $283.21.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating the consensus estimate of $5.88 by $0.22. The company had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $4.82 EPS. On average, analysts anticipate that Affiliated Managers Group will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Thursday, November 13th. Affiliated Managers Group’s payout ratio is presently 0.24%.

Affiliated Managers Group Company Profile

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.