Affiliated Managers Group (NYSE:AMG) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

Affiliated Managers Group, Inc. (NYSE:AMG) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $371.95 and traded as high as $383.73. Affiliated Managers Group shares last traded at $382.4140, with a volume of 615,398 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on AMG shares. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. TD Cowen upped their price objective on shares of Affiliated Managers Group from $523.00 to $583.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Finally, Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $453.25.

Affiliated Managers Group Stock Performance

The stock has a market cap of $9.93 billion, a PE ratio of 14.04, a P/E/G ratio of 0.51 and a beta of 1.05. The company has a fifty day moving average price of $373.43 and a 200 day moving average price of $334.93. The company has a quick ratio of 1.24, a current ratio of 1.20 and a debt-to-equity ratio of 0.86.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 9th. The asset manager reported $9.50 earnings per share for the quarter, beating the consensus estimate of $8.79 by $0.71. Affiliated Managers Group had a return on equity of 24.44% and a net margin of 34.96%. The company had revenue of $595.20 million during the quarter, compared to analysts’ expectations of $655.08 million. During the same period in the prior year, the business posted $6.10 EPS. Affiliated Managers Group’s quarterly revenue was up .0% compared to the same quarter last year. Analysts expect that Affiliated Managers Group, Inc. will post 37.43 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 19th. Affiliated Managers Group’s dividend payout ratio is 0.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Composition Wealth LLC purchased a new position in shares of Affiliated Managers Group in the third quarter valued at about $254,000. Voya Investment Management LLC boosted its holdings in shares of Affiliated Managers Group by 1.1% during the third quarter. Voya Investment Management LLC now owns 11,364 shares of the asset manager’s stock worth $4,155,000 after purchasing an additional 123 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Affiliated Managers Group by 7.4% during the third quarter. Global Retirement Partners LLC now owns 1,157 shares of the asset manager’s stock worth $423,000 after purchasing an additional 80 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Affiliated Managers Group in the third quarter worth about $646,000. Finally, HighTower Advisors LLC grew its stake in shares of Affiliated Managers Group by 29.3% in the third quarter. HighTower Advisors LLC now owns 4,427 shares of the asset manager’s stock worth $1,619,000 after purchasing an additional 1,003 shares during the last quarter. 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 company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.