Affiliated Managers Group (NYSE:AMG) Stock Price Down 4.2% – Here’s What Happened

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price traded down 4.2% on Friday . The stock traded as low as $317.24 and last traded at $316.89. 4,911 shares were traded during mid-day trading, a decline of 99% from the average session volume of 426,936 shares. The stock had previously closed at $330.75.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMG. Barrington Research upped their target price on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. UBS Group set a $295.00 price target on Affiliated Managers Group in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group increased their price objective on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group Stock Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.30. The stock’s 50 day simple moving average is $305.54 and its two-hundred day simple moving average is $263.67. The company has a market capitalization of $7.76 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.55 and a beta of 1.21.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, topping the consensus estimate of $8.75 by $0.73. The company had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. Affiliated Managers Group’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.53 EPS. As a group, research analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, February 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.17%.

Institutional Trading of Affiliated Managers Group

Institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Affiliated Managers Group by 428.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after buying an additional 107 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Affiliated Managers Group during the 4th quarter valued at about $30,000. Root Financial Partners LLC acquired a new stake in Affiliated Managers Group during the third quarter worth approximately $33,000. Meeder Asset Management Inc. bought a new stake in Affiliated Managers Group in the third quarter worth approximately $34,000. Finally, Hantz Financial Services Inc. lifted its stake in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after buying an additional 93 shares during the period. 95.30% of the stock is currently 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.