Affiliated Managers Group (NYSE:AMG) Hits New 1-Year High – Should You Buy?

Affiliated Managers Group, Inc. (NYSE:AMG) reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $393.42 and last traded at $391.2450, with a volume of 168,493 shares. The stock had previously closed at $377.09.

Wall Street Analyst Weigh In

AMG has been the subject of several research analyst reports. Weiss Ratings upgraded Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. TD Cowen restated a “buy” rating and set a $512.00 target price on shares of Affiliated Managers Group in a report on Tuesday, September 29th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a research note on Friday, July 31st. Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average target price of $386.50.

Affiliated Managers Group Stock Up 0.2%

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’s 50-day moving average price is $366.27 and its two-hundred day moving average price is $336.20. The stock has a market capitalization of $10.03 billion, a PE ratio of 13.44, a P/E/G ratio of 0.51 and a beta of 1.07.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. The company had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. Affiliated Managers Group’s revenue was up .0% on a year-over-year basis. During the same period last year, the company posted $5.39 EPS. As a group, analysts expect that Affiliated Managers Group, Inc. will post 36.75 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given 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 of this dividend was Monday, August 10th. Affiliated Managers Group’s payout ratio is currently 0.14%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Affiliated Managers Group in the second quarter worth approximately $48,000. Caitong International Asset Management Co. Ltd bought a new stake in Affiliated Managers Group during the fourth quarter valued at approximately $42,000. EverSource Wealth Advisors LLC grew its position in Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after buying an additional 56 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new stake in Affiliated Managers Group during the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.