Affiliated Managers Group (NYSE:AMG) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a hold rating in a research note released on Saturday.

AMG has been the subject of several other reports. Barrington Research boosted their target price on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Monday, December 15th. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. The Goldman Sachs Group raised their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Bank of America lifted their target price on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $338.83.

Affiliated Managers Group Trading Up 1.2%

Shares of NYSE:AMG opened at $311.77 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $8.77 billion, a PE ratio of 18.57, a P/E/G ratio of 0.57 and a beta of 1.19. Affiliated Managers Group has a 1 year low of $139.22 and a 1 year high of $313.24. The firm has a fifty day moving average price of $275.57 and a 200 day moving average price of $242.56.

Affiliated Managers Group (NYSE:AMG) last posted its 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 company had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The business’s revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $4.82 earnings per share. Analysts expect that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.24%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Voya Investment Management LLC grew its holdings in shares of Affiliated Managers Group by 52.2% in the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock worth $4,823,000 after purchasing an additional 9,845 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new position in Affiliated Managers Group in the third quarter valued at about $2,673,000. Cullen Frost Bankers Inc. grew its stake in Affiliated Managers Group by 79.4% during the second quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock worth $118,000 after buying an additional 266 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Affiliated Managers Group during the second quarter worth approximately $226,000. Finally, First Trust Advisors LP raised its stake in shares of Affiliated Managers Group by 18.1% in the second quarter. First Trust Advisors LP now owns 234,679 shares of the asset manager’s stock valued at $46,178,000 after acquiring an additional 36,045 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

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.