Affiliated Managers Group (NYSE:AMG) Sets New 52-Week Low on Analyst Downgrade

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price hit a new 52-week low during mid-day trading on Friday after Bank of America lowered their price target on the stock from $211.00 to $195.00. Bank of America currently has a neutral rating on the stock. Affiliated Managers Group traded as low as $146.61 and last traded at $150.35, with a volume of 118863 shares trading hands. The stock had previously closed at $158.08.

Several other equities analysts have also issued reports on AMG. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barrington Research lifted their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $193.00 to $191.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $197.20.

Institutional Trading of Affiliated Managers Group

Several hedge funds have recently modified their holdings of AMG. Versant Capital Management Inc boosted its stake in shares of Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock worth $30,000 after purchasing an additional 75 shares during the period. First Hawaiian Bank increased its holdings in Affiliated Managers Group by 2.1% during the 1st quarter. First Hawaiian Bank now owns 9,269 shares of the asset manager’s stock worth $1,557,000 after purchasing an additional 190 shares during the period. CWC Advisors LLC. raised its holdings in shares of Affiliated Managers Group by 1.3% in the fourth quarter. CWC Advisors LLC. now owns 10,833 shares of the asset manager’s stock valued at $2,003,000 after acquiring an additional 141 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Affiliated Managers Group in the 4th quarter worth approximately $8,118,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Affiliated Managers Group by 50.9% during the 4th quarter. Mackenzie Financial Corp now owns 7,834 shares of the asset manager’s stock worth $1,449,000 after purchasing an additional 2,642 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

The business’s 50-day moving average price is $170.28 and its 200-day moving average price is $180.03. The stock has a market cap of $4.35 billion, a PE ratio of 9.84, a P/E/G ratio of 0.57 and a beta of 1.18. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, equities research analysts expect that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s payout ratio is 0.26%.

Affiliated Managers Group Company Profile

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.