Affiliated Managers Group (NYSE:AMG) Reaches New 1-Year High – Should You Buy?

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $334.78 and last traded at $331.7110, with a volume of 84908 shares traded. The stock had previously closed at $323.01.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMG. The Goldman Sachs Group raised their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Jefferies Financial Group reissued a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $350.14.

Affiliated Managers Group Trading Up 2.0%

The firm’s 50-day simple moving average is $303.68 and its 200 day simple moving average is $262.79. The stock has a market cap of $9.27 billion, a P/E ratio of 14.29, a PEG ratio of 0.61 and a beta of 1.21. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating analysts’ consensus estimates of $8.75 by $0.73. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The company had revenue of $556.60 million for the quarter, compared to analysts’ expectations of $578.54 million. During the same quarter in the previous year, the company posted $6.53 earnings per share. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, February 23rd will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.17%.

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Carrera Capital Advisors bought a new stake in Affiliated Managers Group during the third quarter worth approximately $4,295,000. Allianz Asset Management GmbH boosted its stake in Affiliated Managers Group by 14.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock valued at $93,741,000 after purchasing an additional 50,219 shares in the last quarter. Oliver Luxxe Assets LLC acquired a new position in shares of Affiliated Managers Group during the 3rd quarter valued at $2,673,000. Cullen Frost Bankers Inc. raised its stake in shares of Affiliated Managers Group by 79.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock worth $118,000 after buying an additional 266 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Affiliated Managers Group by 0.7% in the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after buying an additional 3,400 shares during the period. 95.30% of the stock is currently owned by institutional investors.

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.