Brokerages Set Affiliated Managers Group, Inc. (NYSE:AMG) Price Target at $362.29

Affiliated Managers Group, Inc. (NYSE:AMG) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $362.2857.

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. TD Cowen reissued a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th.

Affiliated Managers Group Stock Up 0.0%

Shares of AMG opened at $308.71 on Thursday. Affiliated Managers Group has a 12 month low of $172.54 and a 12 month high of $334.78. The firm’s 50 day moving average is $289.97 and its 200-day moving average is $291.31. The stock has a market capitalization of $8.15 billion, a PE ratio of 12.49, a P/E/G ratio of 0.52 and a beta of 1.14. 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 announced its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.10 by $0.13. The business had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $5.37 earnings per share. Equities research analysts forecast that Affiliated Managers Group will post 34.71 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Insiders Place Their Bets

In related news, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the transaction, the director directly owned 4,369 shares of the company’s stock, valued at $1,311,486.42. This trade represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director G. Staley Cates acquired 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the completion of the purchase, the director directly 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. Insiders sold a total of 14,602 shares of company stock valued at $4,240,522 over the last three months. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Affiliated Managers Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors grew its stake in shares of Affiliated Managers Group by 3.5% during the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after buying an additional 34 shares during the last quarter. AlphaCore Capital LLC grew its stake in shares of Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after buying an additional 36 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Affiliated Managers Group by 4.3% during the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after buying an additional 42 shares during the last quarter. Allworth Financial LP grew its stake in shares of Affiliated Managers Group by 10.3% during the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after buying an additional 45 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in shares of Affiliated Managers Group by 2.0% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after buying an additional 46 shares during the last quarter. 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.