Affiliated Managers Group, Inc. (NYSE:AMG) Receives Consensus Rating of “Buy” from Analysts

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have received an average rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $370.86.

Several equities analysts have recently commented on AMG shares. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research report on Friday, July 31st. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a report on Tuesday, September 22nd.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $374.34 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average price is $362.80 and its two-hundred day moving average price is $329.60. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 0.51 and a beta of 1.10. Affiliated Managers Group has a 12-month low of $230.10 and a 12-month high of $392.92.

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

Affiliated Managers Group Dividend Announcement

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

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Danske Bank A S acquired a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $622,000. Fisher Asset Management LLC raised its position in shares of Affiliated Managers Group by 19.7% in the fourth quarter. Fisher Asset Management LLC now owns 243,830 shares of the asset manager’s stock valued at $70,291,000 after buying an additional 40,107 shares in the last quarter. Sei Investments Co. raised its position in shares of Affiliated Managers Group by 5.2% in the first quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock valued at $29,787,000 after buying an additional 5,357 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $146,331,000. Finally, Deutsche Bank AG bought a new stake in shares of Affiliated Managers Group in the second quarter valued at approximately $13,432,000. 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 company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG’s affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.