Affiliated Managers Group, Inc. (NYSE:AMG) Receives $370.86 Average Target Price from Brokerages

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have received a consensus rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $370.8571.

A number of research firms have weighed in on AMG. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the transaction, the chief executive officer owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Annette Franqui bought 750 shares of Affiliated Managers Group stock in a transaction on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the purchase, the director owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. This trade represents a 61.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Affiliated Managers Group

A number of large investors have recently made changes to their positions in AMG. BlackRock Inc. purchased a new stake in Affiliated Managers Group in the 2nd quarter valued at about $938,294,000. Norges Bank purchased a new position in shares of Affiliated Managers Group during the fourth quarter worth approximately $113,743,000. Balyasny Asset Management L.P. increased its position in shares of Affiliated Managers Group by 3,811.8% during the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after acquiring an additional 303,423 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Affiliated Managers Group during the third quarter valued at approximately $70,356,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $95,418,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Price Performance

Shares of Affiliated Managers Group stock opened at $369.34 on Tuesday. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.79 and a current ratio of 1.24. The stock has a 50 day moving average price of $353.04 and a 200-day moving average price of $317.06. Affiliated Managers Group has a one year low of $210.87 and a one year high of $392.92.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.Affiliated Managers Group’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.39 EPS. Equities analysts expect that Affiliated Managers Group will post 36.25 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is currently 0.14%.

Affiliated Managers Group Company Profile

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.