Affiliated Managers Group (NYSE:AMG) Receives Outperform Rating from Barrington Research


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Barrington Research reiterated their outperform rating on shares of Affiliated Managers Group (NYSE:AMG) in a research note released on Monday, The Fly reports. The brokerage currently has a $180.00 price target on the asset manager’s stock, up from their prior price target of $145.00.

Other analysts have also recently issued reports about the company. Credit Suisse Group upped their price target on Affiliated Managers Group from $118.00 to $130.00 and gave the company a neutral rating in a research note on Tuesday, February 9th. Deutsche Bank Aktiengesellschaft upped their price target on Affiliated Managers Group from $145.00 to $150.00 and gave the company a hold rating in a research note on Thursday, April 15th. Finally, Citigroup raised Affiliated Managers Group from a neutral rating to a buy rating and increased their target price for the stock from $108.50 to $172.00 in a research note on Tuesday, February 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $129.67.

Shares of AMG stock opened at $161.41 on Monday. The stock has a market cap of $6.74 billion, a PE ratio of 69.87, a price-to-earnings-growth ratio of 0.53 and a beta of 1.44. The stock has a 50-day moving average of $153.90 and a 200-day moving average of $118.22. Affiliated Managers Group has a one year low of $56.80 and a one year high of $165.86.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, May 3rd. The asset manager reported $4.28 EPS for the quarter, beating analysts’ consensus estimates of $4.26 by $0.02. The company had revenue of $559.30 million during the quarter, compared to analysts’ expectations of $554.48 million. Affiliated Managers Group had a return on equity of 19.15% and a net margin of 5.37%. Affiliated Managers Group’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.26 EPS. Analysts anticipate that Affiliated Managers Group will post 12.84 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 4th. Shareholders of record on Thursday, February 18th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Wednesday, February 17th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.28%.

In related news, CEO Jay C. Horgen acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, February 9th. The stock was bought at an average price of $136.23 per share, with a total value of $544,920.00. Following the acquisition, the chief executive officer now owns 136,026 shares in the company, valued at approximately $18,530,821.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Reuben Jeffery III acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, February 10th. The stock was bought at an average cost of $145.53 per share, with a total value of $363,825.00. Following the acquisition, the director now owns 17,500 shares in the company, valued at approximately $2,546,775. The disclosure for this purchase can be found here. Corporate insiders own 1.69% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMG. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Affiliated Managers Group by 131.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 56,129 shares of the asset manager’s stock valued at $6,013,000 after buying an additional 31,919 shares during the last quarter. Sowell Financial Services LLC raised its stake in Affiliated Managers Group by 165.4% in the 4th quarter. Sowell Financial Services LLC now owns 1,823 shares of the asset manager’s stock valued at $185,000 after acquiring an additional 1,136 shares during the period. Procyon Private Wealth Partners LLC bought a new stake in Affiliated Managers Group in the 4th quarter valued at $284,000. Pendal Group Limited bought a new stake in Affiliated Managers Group in the 4th quarter valued at $300,000. Finally, Rothschild Investment Corp IL raised its stake in Affiliated Managers Group by 4.5% in the 4th quarter. Rothschild Investment Corp IL now owns 4,912 shares of the asset manager’s stock valued at $499,000 after acquiring an additional 211 shares during the period. 98.78% of the stock is owned by institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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The Fly

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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