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

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $340.50.

Several equities research analysts have recently commented on AMG shares. Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday. Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Jefferies Financial Group restated a “buy” rating and issued a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. TD Cowen lifted their price objective on Affiliated Managers Group to $495.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Wall Street Zen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Saturday, January 10th.

Institutional Trading of Affiliated Managers Group

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its stake in shares of Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after acquiring an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Affiliated Managers Group by 4.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after purchasing an additional 6,262 shares during the period. Jane Street Group LLC bought a new position in shares of Affiliated Managers Group during the first quarter valued at approximately $1,947,000. Voya Investment Management LLC increased its stake in shares of Affiliated Managers Group by 52.2% during the first quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock valued at $4,823,000 after purchasing an additional 9,845 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Affiliated Managers Group by 80.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock valued at $45,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $321.76 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $325.66. The firm has a market cap of $9.05 billion, a P/E ratio of 19.16, a P/E/G ratio of 0.59 and a beta of 1.19. The business’s 50 day moving average price is $279.17 and its 200-day moving average price is $244.40.

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

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 13th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Thursday, November 13th. Affiliated Managers Group’s dividend 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.