Brokerages Set Affiliated Managers Group, Inc. (NYSE:AMG) Target Price at $370.86

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $370.8571.

Several equities research analysts recently weighed in on AMG shares. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, TD Cowen restated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th.

Affiliated Managers Group Price Performance

AMG stock opened at $368.63 on Friday. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 0.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day simple moving average of $360.80 and a 200 day simple moving average of $322.83. Affiliated Managers Group has a 1 year low of $223.44 and a 1 year high of $392.92.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The firm had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.39 earnings per share. Research analysts anticipate that Affiliated Managers Group will post 36.69 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s payout ratio is presently 0.14%.

Insider Buying and Selling

In other news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were 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 in the company, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is owned by insiders.

Institutional Trading of Affiliated Managers Group

Several large investors have recently modified their holdings of AMG. Amundi grew its holdings in Affiliated Managers Group by 6.3% in the second quarter. Amundi now owns 3,187 shares of the asset manager’s stock worth $1,078,000 after purchasing an additional 190 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Affiliated Managers Group during the second quarter valued at about $1,272,000. California State Teachers Retirement System raised its holdings in shares of Affiliated Managers Group by 30,051.3% during the second quarter. California State Teachers Retirement System now owns 9,905,306 shares of the asset manager’s stock valued at $3,351,956,000 after purchasing an additional 9,872,454 shares during the period. Wedmont Private Capital boosted its position in shares of Affiliated Managers Group by 5.3% during the 2nd quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock worth $283,000 after purchasing an additional 39 shares in the last quarter. Finally, AlphaGrep UK Ltd bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth about $357,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.