Affiliated Managers Group (NYSE:AMG) Price Target Raised to $523.00

Affiliated Managers Group (NYSE:AMG) had its price objective raised by TD Cowen from $512.00 to $523.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other research firms have also weighed in on AMG. Barrington Research set a $425.00 target price on Affiliated Managers Group in a report on Friday, July 31st. Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Finally, Weiss Ratings upgraded shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group currently has an average rating of “Moderate Buy” and an average price target of $388.33.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $371.90 on Monday. Affiliated Managers Group has a one year low of $231.53 and a one year high of $395.00. The business has a fifty day moving average price of $366.13 and a 200-day moving average price of $338.75. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $9.62 billion, a P/E ratio of 12.88, a PEG ratio of 0.50 and a beta of 1.07.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.39 earnings per share. As a group, equities research analysts forecast that Affiliated Managers Group will post 36.81 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Monday, August 10th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.14%.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in shares of Affiliated Managers Group by 2.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock valued at $539,000 after purchasing an additional 34 shares during the last quarter. Versant Capital Management Inc raised its position in Affiliated Managers Group by 7.0% in the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the asset manager’s stock worth $200,000 after purchasing an additional 36 shares during the period. Wedmont Private Capital raised its position in Affiliated Managers Group by 5.3% in the 2nd quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock worth $283,000 after purchasing an additional 39 shares during the period. Parallel Advisors LLC raised its position in Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after purchasing an additional 42 shares during the period. Finally, Private Client Services LLC lifted its stake in Affiliated Managers Group by 1.2% in the third quarter. Private Client Services LLC now owns 3,693 shares of the asset manager’s stock worth $1,350,000 after purchasing an additional 44 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.