Analysts Set Affiliated Managers Group, Inc. (NYSE:AMG) Target Price at $370.86

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned an average rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $370.8571.

Several brokerages have issued reports on AMG. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research note on Friday, July 31st. TD Cowen restated a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Finally, Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th.

Affiliated Managers Group Trading Down 0.7%

Shares of AMG stock opened at $358.21 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $361.37 and a two-hundred day moving average price of $323.40. Affiliated Managers Group has a 12-month low of $227.22 and a 12-month high of $392.92. The firm has a market cap of $9.26 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. The firm had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $5.39 EPS. Equities analysts anticipate that Affiliated Managers Group will post 36.69 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Activity at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the sale, the chief executive officer owned 204,706 shares of the company’s stock, valued at approximately $69,245,898.62. The trade was a 7.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently bought and sold shares of the stock. Amundi lifted its position in Affiliated Managers Group by 6.3% in the second quarter. Amundi now owns 3,187 shares of the asset manager’s stock valued at $1,078,000 after purchasing an additional 190 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Affiliated Managers Group in the second quarter worth approximately $1,272,000. California State Teachers Retirement System increased its stake in shares of Affiliated Managers Group by 30,051.3% in the second quarter. California State Teachers Retirement System now owns 9,905,306 shares of the asset manager’s stock worth $3,351,956,000 after buying an additional 9,872,454 shares during the period. Wedmont Private Capital increased its stake in shares of Affiliated Managers Group by 5.3% in the second quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock worth $283,000 after buying an additional 39 shares during the period. Finally, AlphaGrep UK Ltd bought a new stake in Affiliated Managers Group during the 2nd quarter valued at $357,000. 95.30% of the stock is owned by hedge funds and other 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.