Affiliated Managers Group (NYSE:AMG) Reaches New 12-Month High – Still a Buy?

Affiliated Managers Group, Inc. (NYSE:AMG)’s share price reached a new 52-week high on Friday . The company traded as high as $353.99 and last traded at $350.7050, with a volume of 32946 shares changing hands. The stock had previously closed at $344.33.

Analyst Upgrades and Downgrades

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

Affiliated Managers Group Stock Up 2.0%

The company has a market cap of $9.27 billion, a PE ratio of 14.20, a P/E/G ratio of 0.57 and a beta of 1.13. The stock has a 50-day moving average of $300.56 and a 200-day moving average of $296.53. The company has a quick ratio of 1.79, a current 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 EPS for the quarter, topping the consensus estimate of $8.10 by $0.13. The business had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the business earned $5.37 earnings per share. Sell-side analysts predict that Affiliated Managers Group, Inc. will post 34.71 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Buying and Selling

In related news, Director David Christopher Ryan sold 3,402 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 1,092 shares in the company, valued at approximately $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G. Staley Cates bought 1,500 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was bought 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. This represents a 30.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 21,902 shares of company stock valued at $7,257,719 in the last 90 days. 2.90% of the stock is owned by company insiders.

Institutional Trading of Affiliated Managers Group

A number of hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors grew its position in Affiliated Managers Group by 3.5% in the fourth quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after acquiring an additional 34 shares in the last quarter. AlphaCore Capital LLC raised its position in Affiliated Managers Group by 3.4% during the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after purchasing an additional 36 shares in the last quarter. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 42 shares during the last quarter. Allworth Financial LP lifted its stake in 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 purchasing an additional 45 shares during the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Affiliated Managers Group by 2.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock worth $692,000 after purchasing an additional 46 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

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.