Affiliated Managers Group (NYSE:AMG) Reaches New 52-Week High – Should You Buy?

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) hit a new 52-week high on Monday . The company traded as high as $311.59 and last traded at $310.54, with a volume of 123983 shares changing hands. The stock had previously closed at $308.03.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AMG shares. Wall Street Zen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group reaffirmed a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Barrington Research lifted their target price on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Bank of America upped their price target on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, TD Cowen raised their price target on Affiliated Managers Group to $485.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Affiliated Managers Group currently has an average rating of “Moderate Buy” and a consensus price target of $338.83.

Affiliated Managers Group Stock Up 1.2%

The company has a market cap of $8.77 billion, a P/E ratio of 18.57, a PEG ratio of 0.57 and a beta of 1.19. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average price of $274.46 and a 200 day moving average price of $241.72.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.88 by $0.22. The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.82 EPS. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio is 0.24%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Affiliated Managers Group by 428.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock valued at $26,000 after buying an additional 107 shares in the last quarter. Root Financial Partners LLC bought a new position in Affiliated Managers Group during the third quarter worth about $33,000. Meeder Asset Management Inc. acquired a new position in Affiliated Managers Group in the third quarter valued at about $34,000. Hantz Financial Services Inc. increased its holdings in shares of Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after acquiring an additional 93 shares in the last quarter. Finally, Millstone Evans Group LLC increased its holdings in shares of Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.