Affiliated Managers Group, Inc. (NYSE:AMG) Stock Has Average Target Price of $370.86 According to Brokerages

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $370.86.

A number of equities research analysts have commented on AMG shares. Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Tuesday. Finally, Barrington Research set a $425.00 price objective on Affiliated Managers Group in a report on Friday, July 31st.

Affiliated Managers Group Price Performance

AMG opened at $374.34 on Wednesday. The company’s 50-day simple moving average is $362.80 and its two-hundred day simple moving average is $329.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $9.68 billion, a P/E ratio of 12.97, a P/E/G ratio of 0.50 and a beta of 1.10. Affiliated Managers Group has a 52-week low of $230.10 and a 52-week high of $392.92.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The firm had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. During the same period in the previous year, the business posted $5.39 earnings per share. The business’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts predict that Affiliated Managers Group will post 36.69 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is currently 0.14%.

Institutional Investors Weigh In On Affiliated Managers Group

A number of large investors have recently made changes to their positions in AMG. Danske Bank A S bought a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at $622,000. Fisher Asset Management LLC lifted its stake in shares of Affiliated Managers Group by 19.7% during the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock valued at $70,291,000 after buying an additional 40,107 shares in the last quarter. Sei Investments Co. boosted its holdings in Affiliated Managers Group by 5.2% in the 1st quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock worth $29,787,000 after buying an additional 5,357 shares during the period. Deutsche Bank AG purchased a new stake in Affiliated Managers Group in the 2nd quarter worth $13,432,000. Finally, Bank of America Corp DE purchased a new stake in Affiliated Managers Group in the 2nd quarter worth $146,331,000. 95.30% of the stock is currently owned by institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE:AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG’s affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.