Affiliated Managers Group, Inc. (NYSE:AMG) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $362.2857.

Several brokerages have recently issued reports on AMG. The Goldman Sachs Group reiterated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research reissued an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a research report on Monday, April 27th. Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, TD Cowen reissued a “buy” rating and issued a $454.00 target price on shares of Affiliated Managers Group in a report on Wednesday, May 13th.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $354.55 on Monday. Affiliated Managers Group has a 1-year low of $179.79 and a 1-year high of $355.55. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. The business has a fifty day moving average price of $302.17 and a 200-day moving average price of $297.18. The company has a market capitalization of $9.36 billion, a PE ratio of 14.34, a PEG ratio of 0.60 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly 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. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. During the same quarter in the previous year, the business posted $5.37 EPS. Affiliated Managers Group’s revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts expect that Affiliated Managers Group will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Insider Buying and Selling at Affiliated Managers Group

In other news, Director David Christopher Ryan sold 3,402 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the sale, the director owned 1,092 shares of the company’s stock, valued at $333,125.52. This trade represents a 75.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rodriguez Felix V. Matos sold 1,000 shares of Affiliated Managers Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $300.18, for a total transaction of $300,180.00. Following the completion of the sale, the director owned 4,369 shares of the company’s stock, valued at $1,311,486.42. This represents a 18.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affiliated Managers Group

A number of large investors have recently added to or reduced their stakes in the stock. Leonteq Securities AG purchased a new stake in Affiliated Managers Group during the 4th quarter valued at $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Affiliated Managers Group in the fourth quarter worth $42,000. EverSource Wealth Advisors LLC increased its position in Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 56 shares during the last quarter. Arax Advisory Partners increased its position in Affiliated Managers Group by 94.1% during the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 96 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in Affiliated Managers Group by 51.9% in the third quarter. Jones Financial Companies Lllp now owns 246 shares of the asset manager’s stock valued at $59,000 after acquiring an additional 84 shares during the period. 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.