Brokerages Set Affiliated Managers Group, Inc. (NYSE:AMG) PT at $350.14

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $350.1429.

A number of research firms have recently issued reports on AMG. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. The Goldman Sachs Group upped their price objective 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. Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the company a “buy” rating in a report on Friday, February 13th.

Affiliated Managers Group Stock Up 0.1%

NYSE:AMG opened at $265.67 on Wednesday. The business’s fifty day moving average price is $296.04 and its 200 day moving average price is $276.76. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.44 and a beta of 1.20. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group has a 1-year low of $139.22 and a 1-year high of $334.78.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $556.60 million during the quarter, compared to analyst estimates of $578.54 million. During the same period last year, the company posted $6.53 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts forecast that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, General Counsel Kavita Padiyar sold 2,200 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $278.24, for a total value of $612,128.00. Following the transaction, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. This represents a 4.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Thomas M. Wojcik sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer directly owned 159,465 shares of the company’s stock, valued at $45,654,829.50. This trade represents a 4.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its position in Affiliated Managers Group by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after acquiring an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Affiliated Managers Group by 4.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock valued at $23,815,000 after purchasing an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Affiliated Managers Group during the 1st quarter valued at $1,947,000. Cetera Investment Advisers lifted its stake in shares of Affiliated Managers Group by 3.5% in the 2nd quarter. Cetera Investment Advisers now owns 5,675 shares of the asset manager’s stock valued at $1,117,000 after purchasing an additional 194 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Affiliated Managers Group by 1.2% in the 2nd quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after purchasing an additional 104 shares during the last quarter. Institutional investors 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.