Affiliated Managers Group, Inc. (NYSE:AMG) Receives $350.14 Average Price Target from Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $350.1429.

AMG has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $408.00 price objective on shares of Affiliated Managers Group and gave the stock a “buy” rating in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. The Goldman Sachs Group increased their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st.

Affiliated Managers Group Stock Down 1.3%

Shares of NYSE:AMG opened at $282.01 on Friday. Affiliated Managers Group has a 1 year low of $139.22 and a 1 year high of $334.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. The business’s 50-day moving average is $309.66 and its 200-day moving average is $271.42. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 0.47 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last released its 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. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The business had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. During the same quarter last year, the firm posted $6.53 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. Equities research analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $286.30, for a total value of $2,290,400.00. Following the transaction, the chief operating officer owned 159,465 shares in the company, valued at approximately $45,654,829.50. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $278.24, for a total value of $612,128.00. Following the completion of the sale, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. This trade represents a 4.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Affiliated Managers Group

Several hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors raised its holdings in Affiliated Managers Group by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock valued at $289,000 after acquiring an additional 34 shares during the period. AlphaCore Capital LLC boosted its holdings in shares of Affiliated Managers Group by 3.4% in the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock worth $312,000 after acquiring an additional 36 shares during the period. Allworth Financial LP grew its position in shares of Affiliated Managers Group by 10.3% in the fourth quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock valued at $139,000 after purchasing an additional 45 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of Affiliated Managers Group by 2.0% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,400 shares of the asset manager’s stock valued at $692,000 after purchasing an additional 46 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Affiliated Managers Group by 1.4% during the 4th quarter. Quadrant Capital Group LLC now owns 3,220 shares of the asset manager’s stock valued at $928,000 after purchasing an additional 46 shares during the period. 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.