Affiliated Managers Group (NYSE:AMG) Stock Breaks Above 50-Day Moving Average – Should You Sell?

Affiliated Managers Group, Inc. (NYSE:AMG) shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $371.95 and traded as high as $383.73. Affiliated Managers Group shares last traded at $382.4140, with a volume of 615,398 shares trading hands.

Affiliated Managers Group News Summary

Here are the key news stories impacting Affiliated Managers Group this week:

• Positive Sentiment: Third-quarter economic EPS was $9.50, up 56% year over year and above analyst estimates. AMG also reported record AUM of $974 billion and $21 billion in net client cash flows, including record alternative net inflows. AMG Q3 results
• Positive Sentiment: The company repurchased $400 million of its shares during the quarter, bringing year-to-date buybacks to $775 million—a meaningful capital return that may support per-share results. AMG Q3 results
• Neutral Sentiment: AMG declared a quarterly dividend of $0.01 per share. The payout is minimal, with an annualized yield near zero, so it is unlikely to be a major share-price driver.
• Negative Sentiment: Quarterly revenue of $595.2 million missed analyst expectations of about $655.1 million and was essentially flat year over year, limiting the strength of the earnings beat. AMG Q3 revenue report

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AMG. TD Cowen boosted their target price on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Weiss Ratings raised shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. Finally, Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $438.25.

Affiliated Managers Group Price Performance

The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.47 and a beta of 1.05. The company has a 50-day moving average price of $371.95 and a 200-day moving average price of $334.16. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 9th. The asset manager reported $9.50 EPS for the quarter, beating analysts’ consensus estimates of $8.79 by $0.71. The company had revenue of $595.20 million during the quarter, compared to analysts’ expectations of $655.08 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. Affiliated Managers Group’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $6.10 EPS. On average, equities research analysts expect that Affiliated Managers Group, Inc. will post 36.87 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.14%.

Institutional Investors Weigh In On Affiliated Managers Group

Several large investors have recently bought and sold shares of the company. Danske Bank A S bought a new stake in Affiliated Managers Group in the 2nd quarter valued at $622,000. Bank of America Corp DE acquired a new stake in Affiliated Managers Group during the 2nd quarter valued at $146,331,000. Van ECK Associates Corp bought a new position in Affiliated Managers Group during the second quarter worth $6,853,000. Secure Asset Management LLC bought a new position in Affiliated Managers Group during the second quarter worth $208,000. Finally, Engineers Gate Manager LP increased its holdings in shares of Affiliated Managers Group by 161.4% in the second quarter. Engineers Gate Manager LP now owns 51,861 shares of the asset manager’s stock valued at $17,550,000 after purchasing an additional 32,023 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations.

Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.