Affiliated Managers Group, Inc. (AMG) Receives Average Recommendation of “Buy” from Analysts
Affiliated Managers Group, Inc. (NYSE:AMG) has been given a consensus rating of “Buy” by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $228.25.
AMG has been the topic of several research reports. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a research note on Tuesday, January 2nd. Citigroup upped their price target on shares of Affiliated Managers Group from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Deutsche Bank upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $216.00 to $215.00 in a research note on Tuesday, February 13th. Credit Suisse Group restated a “hold” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research note on Friday, January 12th. Finally, Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price target on the stock. in a research note on Tuesday, January 9th.
In other Affiliated Managers Group news, insider Peter W. Macewen sold 10,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the sale, the insider now directly owns 37,682 shares in the company, valued at $7,448,600.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
Shares of Affiliated Managers Group (AMG) traded up $0.68 on Wednesday, hitting $188.16. 425,387 shares of the stock traded hands, compared to its average volume of 432,690. The company has a market capitalization of $10,300.00, a price-to-earnings ratio of 22.59, a PEG ratio of 0.67 and a beta of 1.55. Affiliated Managers Group has a 52 week low of $148.81 and a 52 week high of $216.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.59 and a quick ratio of 0.59.
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 Thomson Reuters’ consensus estimate of $4.55 by $0.13. Affiliated Managers Group had a net margin of 29.92% and a return on equity of 18.61%. The company had revenue of $604.10 million for the quarter, compared to analyst estimates of $608.51 million. During the same period in the prior year, the firm earned $3.80 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. sell-side analysts expect that Affiliated Managers Group will post 17.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Thursday, February 8th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.64%. This is an increase from Affiliated Managers Group’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, February 7th. Affiliated Managers Group’s dividend payout ratio is presently 14.41%.
Affiliated Managers Group announced that its Board of Directors has initiated a share repurchase program on Monday, January 29th that permits the company to buyback 3,400,000 outstanding shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership 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.
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