Affiliated Managers Group (NYSE:AMG) Hits New 12-Month High – Time to Buy?

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $272.00 and last traded at $270.7720, with a volume of 67283 shares traded. The stock had previously closed at $268.83.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 14th. Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of “Buy” and an average target price of $290.33.

Affiliated Managers Group Stock Performance

The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 0.59 and a beta of 1.22. The company has a 50-day moving average price of $247.79 and a 200-day moving average price of $220.98. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The company had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. During the same quarter in the prior year, the business posted $4.82 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, equities research analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio is 0.24%.

Insider Activity

In other news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE grew its holdings in shares of Affiliated Managers Group by 1.4% in the 3rd quarter. US Bancorp DE now owns 3,561 shares of the asset manager’s stock worth $849,000 after acquiring an additional 49 shares during the last quarter. Procyon Advisors LLC boosted its position in shares of Affiliated Managers Group by 3.1% in the 3rd quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 50 shares during the period. Millstone Evans Group LLC increased its stake in Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after purchasing an additional 52 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Affiliated Managers Group by 2.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,174 shares of the asset manager’s stock worth $757,000 after buying an additional 64 shares during the period. Finally, Glenmede Investment Management LP lifted its stake in Affiliated Managers Group by 3.9% during the third quarter. Glenmede Investment Management LP now owns 1,792 shares of the asset manager’s stock valued at $427,000 after buying an additional 67 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.