Affiliated Managers Group, Inc. (NYSE:AMG) Receives $370.86 Consensus Target Price from Analysts

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have been assigned a consensus rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $370.8571.

Several research analysts recently weighed in on the stock. 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 set a $425.00 price objective on Affiliated Managers Group in a report on Friday, July 31st. The Goldman Sachs Group reiterated a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th.

Affiliated Managers Group Stock Down 1.9%

AMG opened at $362.67 on Tuesday. The company has a fifty day moving average of $354.23 and a two-hundred day moving average of $317.30. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.53 and a beta of 1.11. Affiliated Managers Group has a fifty-two week low of $211.71 and a fifty-two week high of $392.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.79 and a current ratio of 1.24.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The company had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.Affiliated Managers Group’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.39 EPS. On average, research analysts expect that Affiliated Managers Group will post 36.25 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Monday, August 10th. Affiliated Managers Group’s payout ratio is 0.14%.

Insider Buying and Selling at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the sale, the chief executive officer owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Annette Franqui bought 750 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the purchase, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. This represents a 61.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.90% of the company’s stock.

Institutional Trading of Affiliated Managers Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Affiliated Managers Group in the second quarter worth approximately $938,294,000. Norges Bank acquired a new position in shares of Affiliated Managers Group in the 4th quarter valued at $113,743,000. Balyasny Asset Management L.P. grew its holdings 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 worth $61,271,000 after purchasing an additional 303,423 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of Affiliated Managers Group during the 3rd quarter worth $70,356,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Affiliated Managers Group during the 2nd quarter worth about $95,418,000. 95.30% of the stock is owned by institutional investors and hedge funds.

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.