Affiliated Managers Group (NYSE:AMG) Stock Price Down 4.2% – Time to Sell?

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) traded down 4.2% during mid-day trading on Friday . The company traded as low as $317.24 and last traded at $316.89. 4,911 shares were traded during mid-day trading, a decline of 99% from the average session volume of 426,936 shares. The stock had previously closed at $330.75.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AMG shares. UBS Group set a $295.00 price target on Affiliated Managers Group in a report on Tuesday, November 4th. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the company a “buy” rating in a report on Friday, February 13th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Jefferies Financial Group restated a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Stock Performance

The company’s fifty day simple moving average is $305.75 and its two-hundred day simple moving average is $264.54. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.34.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, topping the consensus estimate of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $6.53 earnings per share. Equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, February 23rd will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Monday, February 23rd. Affiliated Managers Group’s payout ratio is currently 0.17%.

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in shares of Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after purchasing an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Affiliated Managers Group by 4.6% during 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 valued at $23,815,000 after purchasing an additional 6,262 shares in the last quarter. Jane Street Group LLC acquired a new stake in Affiliated Managers Group in the first quarter worth about $1,947,000. Cullen Frost Bankers Inc. grew its position in Affiliated Managers Group by 79.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock valued at $118,000 after buying an additional 266 shares in the last quarter. Finally, MQS Management LLC bought a new position in Affiliated Managers Group in the 2nd quarter valued at about $499,000. 95.30% of the stock is currently owned by institutional investors.

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.