Affiliated Managers Group, Inc. (AMG) Receives Consensus Rating of “Buy” from Brokerages
Affiliated Managers Group, Inc. (NYSE:AMG) has earned an average recommendation of “Buy” from the ten research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $188.00.
A number of research firms recently commented on AMG. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $185.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, April 4th. TheStreet upgraded shares of Affiliated Managers Group from a “c+” rating to a “b” rating in a research note on Monday, March 20th. Citigroup Inc. downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Monday, June 5th. ValuEngine downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Tuesday, April 18th.
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In other news, Director Dwight D. Churchill sold 3,277 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $163.30, for a total transaction of $535,134.10. Following the sale, the director now directly owns 7,301 shares in the company, valued at $1,192,253.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sean M. Healey sold 56,928 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $161.07, for a total value of $9,169,392.96. Following the sale, the chief executive officer now owns 206,689 shares in the company, valued at $33,291,397.23. The disclosure for this sale can be found here. Insiders sold a total of 69,107 shares of company stock worth $11,065,554 over the last 90 days. 1.96% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC boosted its position in Affiliated Managers Group by 39.9% in the first quarter. Clearbridge Investments LLC now owns 625,006 shares of the asset manager’s stock valued at $102,463,000 after buying an additional 178,128 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Affiliated Managers Group during the first quarter valued at about $1,191,000. Pointe Capital Management LLC purchased a new stake in shares of Affiliated Managers Group during the first quarter valued at about $233,000. Public Employees Retirement System of Ohio raised its stake in shares of Affiliated Managers Group by 2.7% in the first quarter. Public Employees Retirement System of Ohio now owns 55,348 shares of the asset manager’s stock valued at $9,074,000 after buying an additional 1,460 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of Affiliated Managers Group during the first quarter valued at about $2,126,000. Institutional investors own 94.91% of the company’s stock.
Affiliated Managers Group (NYSE AMG) opened at 162.05 on Friday. The stock’s 50 day moving average is $157.07 and its 200-day moving average is $157.55. Affiliated Managers Group has a 12-month low of $130.48 and a 12-month high of $171.65. The company has a market cap of $9.17 billion, a P/E ratio of 18.43 and a beta of 1.65.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, May 1st. The asset manager reported $3.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.18 by $0.03. Affiliated Managers Group had a net margin of 22.31% and a return on equity of 17.53%. The firm had revenue of $544.30 million for the quarter, compared to analyst estimates of $551.56 million. During the same period in the prior year, the firm posted $2.94 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. Analysts predict that Affiliated Managers Group will post $14.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Investors of record on Thursday, May 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Tuesday, May 9th. Affiliated Managers Group’s dividend payout ratio is currently 9.12%.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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