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

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have been given an average recommendation of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $350.1429.

Several equities analysts recently weighed in on AMG shares. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on Affiliated Managers Group and gave the stock a “buy” rating in a report on Friday, February 13th. Wall Street Zen raised Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st.

Insiders Place Their Bets

In other news, General Counsel Kavita Padiyar sold 2,200 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $278.24, for a total value of $612,128.00. Following the completion of the sale, the general counsel owned 42,672 shares in the company, valued at $11,873,057.28. This represents a 4.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Thomas M. Wojcik sold 8,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the completion of the sale, the chief operating officer owned 159,465 shares of the company’s stock, valued at approximately $45,654,829.50. This represents a 4.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Affiliated Managers Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMG. Leonteq Securities AG purchased a new position in shares of Affiliated Managers Group in the 4th quarter worth approximately $30,000. Root Financial Partners LLC purchased a new stake in shares of Affiliated Managers Group during the third quarter valued at approximately $33,000. Meeder Asset Management Inc. bought a new stake in Affiliated Managers Group during the third quarter worth $34,000. Hantz Financial Services Inc. lifted its holdings in Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after acquiring an additional 93 shares during the period. Finally, Millstone Evans Group LLC boosted its position in Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

AMG opened at $276.36 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $299.46 and its two-hundred day moving average price is $276.64. Affiliated Managers Group has a 1-year low of $139.22 and a 1-year high of $334.78. The company has a market cap of $7.37 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 0.45 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.75 by $0.73. The firm had revenue of $556.60 million during 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 business’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $6.53 earnings per share. On average, analysts expect that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

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.