Affiliated Managers Group, Inc. (NYSE:AMG) Given Average Recommendation of “Moderate Buy” by Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG) has been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $328.6667.

Several equities analysts recently issued reports on AMG shares. Jefferies Financial Group reissued a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Monday, December 15th. The Goldman Sachs Group boosted their price target on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Barrington Research raised their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Finally, Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th.

Affiliated Managers Group Price Performance

AMG opened at $295.88 on Monday. The company has a market capitalization of $8.32 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 0.64 and a beta of 1.22. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $299.69. The business’s fifty day simple moving average is $262.63 and its 200-day simple moving average is $233.00.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The company had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. During the same period in the prior year, the firm earned $4.82 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

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

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its position in Affiliated Managers Group by 314.3% during the 1st quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock valued at $212,668,000 after buying an additional 960,158 shares in the last quarter. Norges Bank acquired a new position in shares of Affiliated Managers Group during the second quarter valued at about $71,779,000. Balyasny Asset Management L.P. raised 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 valued at $61,271,000 after purchasing an additional 303,423 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Affiliated Managers Group in the 3rd quarter worth approximately $70,356,000. Finally, UBS Group AG grew its position in Affiliated Managers Group by 97.4% during the 3rd quarter. UBS Group AG now owns 350,212 shares of the asset manager’s stock worth $83,501,000 after purchasing an additional 172,771 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.