Affiliated Managers Group, Inc. (NYSE:AMG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Affiliated Managers Group, Inc. (NYSE:AMG) has been given a consensus recommendation of “Moderate Buy” by the four research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $196.50.

AMG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Barrington Research reduced their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $193.00 to $191.00 in a research report on Monday. Finally, TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th.

Institutional Trading of Affiliated Managers Group

A number of institutional investors have recently modified their holdings of AMG. Natixis Advisors LLC lifted its holdings in Affiliated Managers Group by 3.0% in the second quarter. Natixis Advisors LLC now owns 12,473 shares of the asset manager’s stock valued at $1,949,000 after acquiring an additional 368 shares during the period. National Bank of Canada FI lifted its stake in shares of Affiliated Managers Group by 34.2% in the second quarter. National Bank of Canada FI now owns 3,157 shares of the asset manager’s stock valued at $489,000 after purchasing an additional 805 shares during the period. Victory Capital Management Inc. boosted its holdings in Affiliated Managers Group by 150.1% during the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after buying an additional 59,659 shares in the last quarter. Foundry Partners LLC acquired a new position in Affiliated Managers Group during the second quarter worth about $574,000. Finally, Los Angeles Capital Management LLC increased its holdings in Affiliated Managers Group by 12.7% in the second quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager’s stock valued at $9,164,000 after buying an additional 6,616 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Up 0.9 %

NYSE:AMG opened at $188.55 on Monday. Affiliated Managers Group has a 52-week low of $145.36 and a 52-week high of $199.52. The stock’s 50 day moving average price is $186.58 and its 200 day moving average price is $177.34. The company has a market capitalization of $5.70 billion, a PE ratio of 12.30, a P/E/G ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The business had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $521.87 million. During the same quarter last year, the business posted $4.08 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Affiliated Managers Group will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.26%.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.