Affiliated Managers Group, Inc. (NYSE:AMG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $362.2857.

AMG has been the topic of several research analyst reports. Barrington Research restated an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th.

Insiders Place Their Bets

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the transaction, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This represents a 7.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Annette Franqui acquired 750 shares of the business’s stock in a transaction on Monday, June 1st. The shares were bought at an average price of $304.88 per share, with a total value of $228,660.00. Following the completion of the transaction, the director directly owned 1,962 shares of the company’s stock, valued at approximately $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 21,902 shares of company stock worth $7,257,719 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Affiliated Managers Group

Several hedge funds have recently added to or reduced their stakes in AMG. Leonteq Securities AG bought a new position in Affiliated Managers Group during the 4th quarter worth $30,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Affiliated Managers Group in the fourth quarter valued at about $42,000. EverSource Wealth Advisors LLC grew its stake in shares of Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 56 shares in the last quarter. Arax Advisory Partners grew its stake in shares of Affiliated Managers Group by 94.1% in the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock valued at $57,000 after acquiring an additional 96 shares in the last quarter. Finally, WealthCollab LLC increased its position in Affiliated Managers Group by 40.5% during the first quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock worth $63,000 after acquiring an additional 66 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $376.62 on Friday. The company has a fifty day moving average price of $332.79 and a two-hundred day moving average price of $310.33. Affiliated Managers Group has a one year low of $200.00 and a one year high of $382.75. The stock has a market cap of $9.95 billion, a P/E ratio of 15.24, a P/E/G ratio of 0.58 and a beta of 1.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping the consensus estimate of $8.10 by $0.13. The company had revenue of $544.90 million for the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. Affiliated Managers Group’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $5.37 EPS. As a group, equities analysts predict that Affiliated Managers Group will post 35.48 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s payout ratio is presently 0.16%.

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.