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

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned an average rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $272.60.

A number of brokerages have weighed in on AMG. Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $214.00 to $255.00 in a research note on Monday, August 4th. The Goldman Sachs Group boosted their target price on Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, October 6th. Finally, Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Monday, August 4th.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the transaction, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of 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 during the last quarter. Millstone Evans Group LLC increased its holdings in shares of Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock worth $28,000 after acquiring an additional 102 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Affiliated Managers Group during the 1st quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Affiliated Managers Group by 80.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock valued at $45,000 after buying an additional 102 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new position in Affiliated Managers Group in the 2nd quarter valued at $49,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Shares of NYSE:AMG opened at $230.66 on Wednesday. The business has a fifty day moving average of $229.66 and a 200-day moving average of $198.24. The firm has a market cap of $6.55 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.59 and a beta of 1.21. Affiliated Managers Group has a twelve month low of $139.22 and a twelve month high of $250.15.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business had revenue of $493.20 million for the quarter, compared to analysts’ expectations of $506.46 million. During the same quarter in the previous year, the business posted $4.67 EPS. Affiliated Managers Group’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts anticipate that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 11th. 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 0.29%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.