Affiliated Managers Group, Inc. (NYSE:AMG) has earned a consensus recommendation of “Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $196.86.
A number of analysts have commented on the company. Deutsche Bank AG lowered their price target on Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating for the company in a research report on Tuesday, April 18th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a research report on Tuesday, April 18th. Citigroup Inc. reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Tuesday, May 2nd. ValuEngine cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st.
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Affiliated Managers Group (NYSE:AMG) opened at 175.23 on Friday. Affiliated Managers Group has a one year low of $130.48 and a one year high of $187.08. The company’s 50 day moving average price is $174.85 and its 200-day moving average price is $164.17. The stock has a market capitalization of $9.81 billion, a PE ratio of 19.41 and a beta of 1.65.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.24 by $0.09. The firm had revenue of $570.90 million during the quarter, compared to analysts’ expectations of $573.73 million. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.07 EPS. Analysts expect that Affiliated Managers Group will post $14.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Affiliated Managers Group’s payout ratio is currently 8.87%.
In other Affiliated Managers Group news, CEO Sean M. Healey sold 56,928 shares of Affiliated Managers Group stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the completion of the transaction, the chief executive officer now owns 206,689 shares in the company, valued at approximately $33,291,397.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight D. Churchill sold 3,277 shares of Affiliated Managers Group stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $163.30, for a total value of $535,134.10. Following the transaction, the director now owns 7,301 shares of the company’s stock, valued at approximately $1,192,253.30. The disclosure for this sale can be found here. Insiders have sold a total of 69,107 shares of company stock valued at $11,065,554 in the last quarter. Company insiders own 1.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in Affiliated Managers Group during the first quarter worth $104,000. Creative Planning raised its position in Affiliated Managers Group by 15.0% in the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock worth $117,000 after buying an additional 92 shares during the last quarter. Advisor Group Inc. raised its position in Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after buying an additional 228 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in Affiliated Managers Group by 2.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after buying an additional 16 shares during the last quarter. Finally, Financial Architects Inc raised its position in Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock worth $134,000 after buying an additional 801 shares during the last quarter. Institutional investors and hedge funds own 94.86% of the company’s stock.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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