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

Affiliated Managers Group, Inc. (NYSE:AMG) shares reached a new 52-week high on Monday . The company traded as high as $300.69 and last traded at $301.8250, with a volume of 32347 shares. The stock had previously closed at $288.85.

Analysts Set New Price Targets

A number of research firms have weighed in on AMG. The Goldman Sachs Group boosted their price objective on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Barrington Research lifted their target price on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Finally, TD Cowen lifted their price target on shares of Affiliated Managers Group to $485.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $328.67.

Affiliated Managers Group Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $8.51 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 0.54 and a beta of 1.19. The firm has a 50-day moving average price of $267.63 and a 200 day moving average price of $237.43.

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

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Thursday, November 13th were given a dividend of $0.01 per share. 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 dividend payout ratio is currently 0.24%.

Hedge Funds Weigh In On Affiliated Managers Group

A number of institutional investors and hedge funds have recently made changes to their positions in AMG. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after acquiring an additional 107 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Affiliated Managers Group during the third quarter worth $33,000. Meeder Asset Management Inc. purchased a new position in Affiliated Managers Group in the third quarter valued at $34,000. Hantz Financial Services Inc. increased its holdings in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after buying an additional 93 shares during the last quarter. Finally, Millstone Evans Group LLC raised its stake in Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after buying an additional 52 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

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.