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

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $362.2857.

Several analysts recently weighed in on AMG shares. TD Cowen restated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research restated an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group restated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday.

Insider Transactions at Affiliated Managers Group

In other news, Director G. Staley Cates purchased 1,500 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $305.83 per share, with a total value of $458,745.00. Following the acquisition, the director directly owned 6,405 shares in the company, valued at approximately $1,958,841.15. The trade was a 30.58% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Christopher Ryan sold 3,402 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total value of $1,037,814.12. Following the completion of the transaction, the director directly owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. This trade represents a 75.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds have recently modified their holdings of AMG. Norges Bank acquired a new position in shares of Affiliated Managers Group in the 4th quarter worth approximately $113,743,000. Balyasny Asset Management L.P. raised its holdings in shares of Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after buying an additional 303,423 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Affiliated Managers Group in the 3rd quarter worth approximately $70,356,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Affiliated Managers Group by 28,466.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager’s stock worth $58,240,000 after buying an additional 192,715 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Affiliated Managers Group by 75.5% in the 1st quarter. Bank of America Corp DE now owns 409,578 shares of the asset manager’s stock worth $113,330,000 after buying an additional 176,246 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

AMG opened at $353.52 on Monday. The company has a market cap of $9.34 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.60 and a beta of 1.13. The stock has a 50-day moving average of $310.55 and a 200-day moving average of $300.01. Affiliated Managers Group has a 52-week low of $180.88 and a 52-week high of $363.89. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The company had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same quarter in the prior year, the company posted $5.37 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts forecast that Affiliated Managers Group will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.16%.

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.