Affiliated Managers Group (NYSE:AMG) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen cut shares of Affiliated Managers Group (NYSE:AMG) from a strong-buy rating to a buy rating in a research note released on Saturday morning.

Several other brokerages also recently commented on AMG. The Goldman Sachs Group raised their price objective on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the stock a “buy” rating in a report on Friday, February 13th. 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. Finally, TD Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group Stock Performance

AMG stock opened at $265.67 on Friday. The firm has a market cap of $7.09 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.44 and a beta of 1.20. 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 stock has a 50-day moving average price of $296.04 and a 200-day moving average price of $277.06. Affiliated Managers Group has a 1-year low of $139.22 and a 1-year high of $334.78.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, beating the consensus estimate of $8.75 by $0.73. The company had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The firm’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 company earned $6.53 EPS. As a group, equities research analysts expect that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 8,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $286.30, for a total value of $2,290,400.00. Following the completion of the sale, the chief operating officer directly owned 159,465 shares of the company’s stock, valued at $45,654,829.50. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the 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 directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. The trade was a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors have recently added to or reduced their stakes in AMG. Rockefeller Capital Management L.P. increased its stake in Affiliated Managers Group by 4.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 3,311 shares of the asset manager’s stock valued at $955,000 after buying an additional 135 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Affiliated Managers Group by 46.7% in the 4th quarter. Corient Private Wealth LLC now owns 13,468 shares of the asset manager’s stock worth $3,883,000 after buying an additional 4,288 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Affiliated Managers Group by 643.9% in the 4th quarter. Hsbc Holdings PLC now owns 10,935 shares of the asset manager’s stock worth $3,158,000 after buying an additional 9,465 shares during the last quarter. AG Campbell Advisory LLC bought a new stake in Affiliated Managers Group in the fourth quarter worth about $239,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Affiliated Managers Group in the fourth quarter valued at about $42,000. 95.30% of the stock is 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.