Brokerages Set Affiliated Managers Group, Inc. (NYSE:AMG) Price Target at $328.67

Affiliated Managers Group, Inc. (NYSE:AMG) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $328.6667.

AMG has been the topic of a number of recent research reports. TD Cowen raised their target price on Affiliated Managers Group to $485.00 and gave the company a “buy” rating in a report on Monday, December 15th. Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research note on Monday, December 15th. UBS Group set a $295.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group raised their price target on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 6th.

Affiliated Managers Group Trading Down 0.4%

NYSE:AMG opened at $291.13 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. Affiliated Managers Group has a one year low of $139.22 and a one year high of $293.73. The company has a market cap of $8.19 billion, a PE ratio of 17.34, a PEG ratio of 0.64 and a beta of 1.22. The firm has a 50-day moving average of $260.29 and a 200-day moving average of $231.80.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.88 by $0.22. The business had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $543.39 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $4.82 EPS. As a group, equities research analysts expect that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders 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 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors have recently modified their holdings of AMG. Millennium Management LLC lifted its holdings in Affiliated Managers Group by 314.3% during the first quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock worth $212,668,000 after acquiring an additional 960,158 shares during the period. Boston Partners increased its position in shares of Affiliated Managers Group by 2.1% during the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after purchasing an additional 24,217 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Affiliated Managers Group by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 684,116 shares of the asset manager’s stock valued at $163,113,000 after purchasing an additional 7,891 shares during the last quarter. LSV Asset Management raised its stake in shares of Affiliated Managers Group by 0.7% during the 3rd quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock worth $114,357,000 after purchasing an additional 3,400 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Affiliated Managers Group by 14.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock worth $93,741,000 after purchasing an additional 50,219 shares during the period. 95.30% of the stock is owned by institutional investors.

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.