Affiliated Managers Group, Inc. (AMG) Receives Consensus Rating of “Buy” from Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG) has been assigned an average recommendation of “Buy” from the eleven brokerages that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $224.13.

Several brokerages have weighed in on AMG. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Keefe, Bruyette & Woods restated a “buy” rating and set a $229.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective on the stock. in a research note on Tuesday, January 9th. Citigroup raised their price objective on Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Barrington Research raised their price objective on Affiliated Managers Group to $240.00 and gave the company an “outperform” rating in a research note on Tuesday. They noted that the move was a valuation call.

In other news, CEO Sean M. Healey sold 69,800 shares of Affiliated Managers Group stock in a transaction on Friday, November 17th. The stock was sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the sale, the chief executive officer now directly owns 194,943 shares in the company, valued at approximately $36,158,027.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter W. Macewen sold 10,000 shares of Affiliated Managers Group stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total value of $1,976,700.00. Following the sale, the insider now owns 37,682 shares in the company, valued at $7,448,600.94. The disclosure for this sale can be found here. Insiders have sold a total of 87,505 shares of company stock worth $16,350,709 over the last quarter. Company insiders own 1.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado raised its stake in shares of Affiliated Managers Group by 2.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 11,232 shares of the asset manager’s stock worth $2,305,000 after purchasing an additional 321 shares during the period. CI Investments Inc. raised its stake in shares of Affiliated Managers Group by 25.0% during the 4th quarter. CI Investments Inc. now owns 5,000 shares of the asset manager’s stock worth $1,026,000 after purchasing an additional 1,000 shares during the period. US Bancorp DE raised its stake in shares of Affiliated Managers Group by 41.4% during the 4th quarter. US Bancorp DE now owns 3,273 shares of the asset manager’s stock worth $672,000 after purchasing an additional 959 shares during the period. Telemus Capital LLC increased its holdings in Affiliated Managers Group by 7.0% in the 4th quarter. Telemus Capital LLC now owns 3,860 shares of the asset manager’s stock worth $793,000 after acquiring an additional 253 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Affiliated Managers Group in the 4th quarter worth about $1,564,000. Institutional investors own 95.73% of the company’s stock.

Affiliated Managers Group (NYSE AMG) opened at $197.11 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.61 and a current ratio of 0.59. Affiliated Managers Group has a 52 week low of $148.81 and a 52 week high of $216.99. The firm has a market capitalization of $11,214.21, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 0.72 and a beta of 1.57.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, January 29th. The asset manager reported $4.68 earnings per share for the quarter, beating the consensus estimate of $4.55 by $0.13. Affiliated Managers Group had a return on equity of 18.61% and a net margin of 29.92%. The business had revenue of $604.10 million for the quarter, compared to analysts’ expectations of $608.51 million. During the same period last year, the business earned $3.80 EPS. The business’s revenue was up 9.8% on a year-over-year basis. equities research analysts anticipate that Affiliated Managers Group will post 17.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.61%. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, February 7th. Affiliated Managers Group’s payout ratio is presently 6.63%.

Affiliated Managers Group announced that its board has approved a share buyback program on Monday, January 29th that allows the company to buyback 3,400,000 outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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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.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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