Affiliated Managers Group, Inc. (NYSE:AMG) has earned a consensus rating of “Hold” from the ten analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $132.48.
A number of brokerages recently issued reports on AMG. Deutsche Bank cut Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $158.00 to $106.00 in a report on Thursday, January 10th. Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Citigroup cut Affiliated Managers Group from a “buy” rating to a “neutral” rating in a research note on Monday, January 14th. Jefferies Financial Group cut Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 price objective on the stock. in a research note on Tuesday, January 29th. Finally, Bank of America restated a “buy” rating and set a $130.00 price objective (down from $155.00) on shares of Affiliated Managers Group in a research note on Thursday, December 6th.
In other news, Director Tracy P. Palandjian sold 1,694 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $110.64, for a total transaction of $187,424.16. Following the completion of the sale, the director now directly owns 4,291 shares of the company’s stock, valued at approximately $474,756.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.91% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in AMG. Geode Capital Management LLC increased its holdings in Affiliated Managers Group by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 725,824 shares of the asset manager’s stock worth $70,606,000 after acquiring an additional 48,638 shares during the last quarter. Norges Bank purchased a new stake in Affiliated Managers Group in the 4th quarter worth about $45,931,000. Teacher Retirement System of Texas increased its holdings in Affiliated Managers Group by 118.6% in the 4th quarter. Teacher Retirement System of Texas now owns 220,581 shares of the asset manager’s stock worth $21,493,000 after acquiring an additional 119,666 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Affiliated Managers Group by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 344,237 shares of the asset manager’s stock worth $33,541,000 after acquiring an additional 46,000 shares during the last quarter. Finally, FMR LLC increased its holdings in Affiliated Managers Group by 15.9% in the 4th quarter. FMR LLC now owns 329,958 shares of the asset manager’s stock worth $32,151,000 after acquiring an additional 45,162 shares during the last quarter. 95.07% of the stock is owned by hedge funds and other institutional investors.
Shares of Affiliated Managers Group stock traded up $0.98 on Friday, reaching $107.74. 5,202 shares of the company’s stock were exchanged, compared to its average volume of 522,730. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 0.66 and a beta of 1.49. Affiliated Managers Group has a 52 week low of $88.46 and a 52 week high of $194.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.29 and a current ratio of 0.71.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, February 4th. The asset manager reported $3.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.51 by $0.02. Affiliated Managers Group had a return on equity of 18.11% and a net margin of 10.24%. The firm had revenue of $564.40 million for the quarter, compared to analysts’ expectations of $568.99 million. During the same period in the prior year, the business earned $4.68 EPS. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts forecast that Affiliated Managers Group will post 14.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 14th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, February 13th. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 1.19%. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.83%.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
Recommended Story: What is the yield curve?
Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.