Affiliated Managers Group (NYSE:AMG) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Affiliated Managers Group (NYSE:AMG) in a report released on Monday,Benzinga reports. The brokerage currently has a $365.00 price target on the asset manager’s stock.

A number of other analysts also recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. The Goldman Sachs Group increased their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft set a $408.00 target price on shares of Affiliated Managers Group and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Thursday, April 9th. Seven equities 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $360.14.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $291.34 on Monday. The company has a market capitalization of $7.74 billion, a PE ratio of 12.62, a P/E/G ratio of 0.53 and a beta of 1.20. The company has a 50 day simple moving average of $288.99 and a two-hundred day simple moving average of $283.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. Affiliated Managers Group has a fifty-two week low of $160.34 and a fifty-two week high of $334.78.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.75 by $0.73. The business had revenue of $556.60 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.53 EPS. Research analysts anticipate that Affiliated Managers Group will post 30.49 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Insider Activity at Affiliated Managers Group

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

Institutional Trading of Affiliated Managers Group

Several large investors have recently modified their holdings of AMG. Carrera Capital Advisors bought a new position in shares of Affiliated Managers Group in the 3rd quarter worth $4,295,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Affiliated Managers Group by 103.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 20,100 shares of the asset manager’s stock worth $4,792,000 after purchasing an additional 10,200 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Affiliated Managers Group by 14.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock worth $93,741,000 after purchasing an additional 50,219 shares in the last quarter. Oliver Luxxe Assets LLC bought a new position in shares of Affiliated Managers Group in the 3rd quarter worth $2,673,000. Finally, Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Affiliated Managers Group in the 3rd quarter worth $5,357,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Affiliated Managers Group

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.