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

Affiliated Managers Group, Inc. (NYSE:AMG) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $362.2857.

A number of equities analysts have commented on AMG shares. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Barrington Research reiterated an “outperform” rating and set a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. TD Cowen reaffirmed a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th.

Insider Activity

In other Affiliated Managers Group news, Director G. Staley Cates acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $305.83 per share, with a total value of $458,745.00. Following the completion of the acquisition, the director directly owned 6,405 shares of the company’s stock, valued at approximately $1,958,841.15. The trade was a 30.58% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Annette Franqui acquired 750 shares of the business’s stock in a transaction on Monday, June 1st. The stock was acquired at an average price of $304.88 per share, with a total value of $228,660.00. Following the transaction, the director directly owned 1,962 shares of the company’s stock, valued at $598,174.56. This represents a 61.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 21,902 shares of company stock valued at $7,257,719 over the last three months. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Affiliated Managers Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Affiliated Managers Group during the fourth quarter worth about $113,743,000. Balyasny Asset Management L.P. lifted its position in shares of Affiliated Managers Group by 3,811.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after acquiring an additional 303,423 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at approximately $70,356,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Affiliated Managers Group by 28,466.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager’s stock worth $58,240,000 after acquiring an additional 192,715 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Affiliated Managers Group by 75.5% during the 1st quarter. Bank of America Corp DE now owns 409,578 shares of the asset manager’s stock worth $113,330,000 after acquiring an additional 176,246 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 2.5%

NYSE:AMG opened at $365.13 on Friday. Affiliated Managers Group has a 12-month low of $199.59 and a 12-month high of $366.47. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73. The stock’s 50 day simple moving average is $325.63 and its 200-day simple moving average is $307.57. The firm has a market cap of $9.64 billion, a P/E ratio of 14.77, a PEG ratio of 0.60 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The firm had revenue of $544.90 million during the quarter, compared to the consensus estimate of $544.01 million. During the same period last year, the company earned $5.37 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts anticipate that Affiliated Managers Group will post 34.88 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid a $0.01 dividend. 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 payout ratio is 0.16%.

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.