Affiliated Managers Group, Inc. (NYSE:AMG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $215.20.

A number of analysts have commented on the stock. The Goldman Sachs Group raised shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $197.00 to $218.00 in a report on Friday, June 27th. TD Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. Finally, Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Monday, August 4th.

Affiliated Managers Group Stock Performance

AMG stock opened at $224.5540 on Tuesday. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 0.62 and a beta of 1.14. The business’s 50-day moving average is $205.54 and its two-hundred day moving average is $181.68. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $225.98.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, beating the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $493.20 million during the quarter, compared to analyst estimates of $506.46 million. During the same quarter in the prior year, the firm earned $4.67 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is 0.29%.

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares during the period. Millstone Evans Group LLC lifted its stake in shares of Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock valued at $28,000 after buying an additional 102 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock worth $30,000 after buying an additional 75 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Affiliated Managers Group in the 1st quarter worth $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Affiliated Managers Group by 80.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock worth $45,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.