Affiliated Managers Group (NYSE:AMG) Reaches New 12-Month High – Should You Buy?

Affiliated Managers Group, Inc. (NYSE:AMG) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $338.07 and last traded at $335.0960, with a volume of 113820 shares traded. The stock had previously closed at $334.82.

Analyst Ratings Changes

AMG has been the topic of several research reports. TD Cowen reissued a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Barrington Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Wall Street Zen downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Trading Up 0.6%

The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.73. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.57 and a beta of 1.13. The business’s fifty day simple moving average is $295.19 and its two-hundred day simple moving average is $293.79.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The business had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $5.37 earnings per share. On average, equities analysts predict that Affiliated Managers Group, Inc. will post 34.71 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, May 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.16%.

Insider Buying and Selling at Affiliated Managers Group

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $300.18, for a total transaction of $300,180.00. Following the transaction, the director directly owned 4,369 shares in the company, valued at approximately $1,311,486.42. This trade represents a 18.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the transaction, the general counsel owned 42,672 shares in the company, valued at approximately $11,873,057.28. This trade represents a 4.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 6,602 shares of company stock valued at $1,950,122. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Boston Partners grew its position in Affiliated Managers Group by 2.1% in the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after buying an additional 24,217 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Affiliated Managers Group by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock valued at $198,746,000 after acquiring an additional 18,865 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Affiliated Managers Group by 20.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock valued at $197,641,000 after acquiring an additional 115,313 shares during the period. Geode Capital Management LLC lifted its holdings in Affiliated Managers Group by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock valued at $158,916,000 after acquiring an additional 41,322 shares during the period. Finally, LSV Asset Management lifted its holdings in Affiliated Managers Group by 0.7% in the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after acquiring an additional 3,400 shares during the period. 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 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.