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

Affiliated Managers Group, Inc. (NYSE:AMG) has received an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $350.1429.

A number of equities research analysts recently weighed in on the company. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Wall Street Zen upgraded Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. The Goldman Sachs Group upped their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $286.90 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $334.78. The company has a 50-day simple moving average of $309.85 and a 200-day simple moving average of $270.22. The company has a market capitalization of $7.65 billion, a PE ratio of 12.43, a P/E/G ratio of 0.48 and a beta of 1.18.

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

Affiliated Managers Group Announces Dividend

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

Institutional Trading of Affiliated Managers Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Boston Partners lifted its stake in Affiliated Managers Group by 2.1% in the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after buying an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Affiliated Managers Group by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 699,448 shares of the asset manager’s stock worth $201,640,000 after buying an additional 15,332 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Affiliated Managers Group by 20.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock worth $197,641,000 after buying an additional 115,313 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Affiliated Managers Group by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock worth $158,916,000 after acquiring an additional 41,322 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of Affiliated Managers Group by 0.7% in the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock worth $114,357,000 after acquiring an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors 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.