Affiliated Managers Group (NYSE:AMG) Price Target Raised to $455.00

Affiliated Managers Group (NYSE:AMG) had its target price lifted by Barrington Research from $425.00 to $455.00 in a report released on Thursday morning,Benzinga reports. Barrington Research currently has an outperform rating on the asset manager’s stock.

Several other analysts have also commented on AMG. Weiss Ratings lowered shares of Affiliated Managers Group from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. TD Cowen increased their target price on Affiliated Managers Group from $523.00 to $583.00 and gave the stock a “buy” rating in a research report on Tuesday, November 10th. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Five 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $460.75.

Affiliated Managers Group Trading Up 0.4%

NYSE:AMG traded up $1.60 during trading hours on Thursday, hitting $395.05. The company had a trading volume of 164,575 shares, compared to its average volume of 355,580. The company has a market capitalization of $9.75 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.47 and a beta of 1.05. The stock has a 50-day moving average price of $374.79 and a 200 day moving average price of $335.78. Affiliated Managers Group has a 52 week low of $246.11 and a 52 week high of $408.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.20 and a quick ratio of 1.24.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 9th. The asset manager reported $9.50 EPS for the quarter, topping the consensus estimate of $8.79 by $0.71. Affiliated Managers Group had a net margin of 34.96% and a return on equity of 24.44%. The firm had revenue of $595.20 million during the quarter, compared to analysts’ expectations of $655.08 million. During the same period last year, the company posted $6.10 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that Affiliated Managers Group will post 37.63 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Thursday, November 19th. Affiliated Managers Group’s payout ratio is presently 0.14%.

Hedge Funds Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Affiliated Managers Group during the second quarter valued at approximately $938,294,000. Bank of America Corp DE purchased a new stake in Affiliated Managers Group in the second quarter worth approximately $146,331,000. Bank of New York Mellon Corp purchased a new stake in Affiliated Managers Group in the second quarter worth approximately $95,418,000. Bruni J V & Co. Co. bought a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $71,095,810. Finally, Kiltearn Partners LLP bought a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $62,464,000. 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 company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.