Affiliated Managers Group (NYSE:AMG) Hits New 52-Week High – Time to Buy?

Affiliated Managers Group, Inc. (NYSE:AMG)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $299.69 and last traded at $295.8350, with a volume of 323342 shares changing hands. The stock had previously closed at $291.13.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a research note on Monday, December 15th. Barrington Research raised their target price on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Bank of America increased their price target on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group raised their price objective on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average target price of $328.67.

Affiliated Managers Group Stock Down 1.1%

The stock has a 50-day simple moving average of $262.63 and a two-hundred day simple moving average of $233.70. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $8.23 billion, a PE ratio of 17.43, a P/E/G ratio of 0.65 and a beta of 1.22.

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

Affiliated Managers Group Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMG. Northwestern Mutual Wealth Management Co. boosted its position in Affiliated Managers Group by 11.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the asset manager’s stock valued at $124,000 after buying an additional 78 shares during the period. Quarry LP raised its stake in shares of Affiliated Managers Group by 44.2% during the first quarter. Quarry LP now owns 411 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 126 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Affiliated Managers Group by 48.3% during the first quarter. EP Wealth Advisors LLC now owns 2,616 shares of the asset manager’s stock worth $440,000 after purchasing an additional 852 shares during the period. Amundi grew its stake in shares of Affiliated Managers Group by 1.1% in the first quarter. Amundi now owns 20,542 shares of the asset manager’s stock worth $3,247,000 after purchasing an additional 218 shares during the last quarter. Finally, Invenomic Capital Management LP purchased a new position in Affiliated Managers Group during the 1st quarter valued at about $4,361,000. 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.