Affiliated Managers Group (NYSE:AMG) Sets New 52-Week High – Still a Buy?

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $365.71 and last traded at $365.8440, with a volume of 40565 shares. The stock had previously closed at $356.27.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMG. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Barrington Research reiterated an “outperform” rating and issued a $365.00 target price on shares of Affiliated Managers Group in a report on Monday, April 27th. Finally, TD Cowen reissued a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Price Performance

The stock has a market capitalization of $9.67 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 0.61 and a beta of 1.12. The business has a fifty day simple moving average of $324.18 and a 200 day simple moving average of $306.97. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. The company had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $5.37 earnings per share. On average, analysts expect that Affiliated Managers Group, Inc. will post 34.88 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Insider Activity

In other news, Director David Christopher Ryan sold 3,402 shares of the company’s stock in a transaction 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 sale, the director owned 1,092 shares in the company, valued at $333,125.52. This represents a 75.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director G. Staley Cates bought 1,500 shares of the stock in a transaction dated 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 owned 6,405 shares of the company’s stock, valued at $1,958,841.15. The trade was a 30.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 21,902 shares of company stock worth $7,257,719. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds and other institutional investors have recently modified their holdings of AMG. Oak Thistle LLC increased its position in shares of Affiliated Managers Group by 194.1% during the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after buying an additional 5,742 shares during the period. Altfest L J & Co. Inc. bought a new position in shares of Affiliated Managers Group in the fourth quarter valued at approximately $1,179,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in Affiliated Managers Group by 20.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 24,774 shares of the asset manager’s stock valued at $7,149,000 after acquiring an additional 4,258 shares in the last quarter. Chase Investment Counsel Corp purchased a new position in Affiliated Managers Group during the fourth quarter valued at approximately $4,962,000. Finally, Fisher Asset Management LLC increased its holdings in Affiliated Managers Group by 19.7% during the 4th quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock worth $70,291,000 after acquiring an additional 40,107 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

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.