Affiliated Managers Group (NYSE:AMG) Reaches New 1-Year High – What’s Next?

Affiliated Managers Group, Inc. (NYSE:AMG)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $365.71 and last traded at $365.8440, with a volume of 40565 shares changing hands. The stock had previously closed at $356.27.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AMG. Barrington Research reaffirmed an “outperform” rating and set a $365.00 target price on shares of Affiliated Managers Group in a research report on Monday, April 27th. TD Cowen restated a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th. 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. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Trading Up 0.5%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. The firm has a 50 day simple moving average of $327.18 and a two-hundred day simple moving average of $307.99. The firm has a market capitalization of $9.69 billion, a P/E ratio of 14.84, a PEG ratio of 0.61 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.10 by $0.13. The firm had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.37 EPS. Equities research analysts forecast that Affiliated Managers Group, Inc. will post 35.17 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued a $0.01 dividend. 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 dividend payout ratio is currently 0.16%.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, Director Annette Franqui purchased 750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was bought at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the transaction, the director owned 1,962 shares of the company’s stock, valued at $598,174.56. The trade was a 61.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total value of $1,037,814.12. Following the sale, the director owned 1,092 shares in the company, valued at $333,125.52. This trade represents a 75.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,902 shares of company stock valued at $7,257,719 in the last ninety days. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Leonteq Securities AG purchased a new stake in Affiliated Managers Group during the fourth quarter worth about $30,000. Caitong International Asset Management Co. Ltd bought a new stake in Affiliated Managers Group in the fourth quarter worth about $42,000. EverSource Wealth Advisors LLC raised its position in Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after acquiring an additional 56 shares during the period. Arax Advisory Partners boosted its stake in Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 96 shares during the last quarter. Finally, WealthCollab LLC boosted its stake in Affiliated Managers Group by 40.5% in the first quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock valued at $63,000 after acquiring an additional 66 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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.