Affiliated Managers Group, Inc. (NYSE:AMG) Receives $272.60 Average Price Target from Brokerages

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $278.5714.

Several analysts have recently weighed in on AMG shares. UBS Group set a $295.00 target price on Affiliated Managers Group in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Bank of America lifted their price objective on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, Barrington Research upped their target price on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $258.83 on Friday. The firm has a market capitalization of $7.35 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25. The business has a 50 day simple moving average of $238.43 and a two-hundred day simple moving average of $209.13. Affiliated Managers Group has a 1 year low of $139.22 and a 1 year high of $261.32.

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 analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. During the same period last year, the company earned $4.82 EPS. Affiliated Managers Group’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Thursday, November 13th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.24%.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the sale, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at $36,666,771.30. The trade was a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.20% of the stock is owned by insiders.

Institutional Trading of Affiliated Managers Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in Affiliated Managers Group by 314.3% in the first quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock worth $212,668,000 after acquiring an additional 960,158 shares during the period. Norges Bank bought a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at about $71,779,000. Balyasny Asset Management L.P. lifted its position in shares of Affiliated Managers Group by 3,811.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after purchasing an additional 303,423 shares during the period. Holocene Advisors LP purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter worth approximately $19,865,000. Finally, Nuveen LLC bought a new position in shares of Affiliated Managers Group during the first quarter valued at approximately $16,060,000. 95.30% of the stock is currently owned by institutional investors.

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.