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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Affiliated Managers Group, with seven buy ratings and one hold. The average 12-month price target is approximately $370.86, while recent targets range as high as $454.
• AMG exceeded quarterly expectations, reporting $8.29 in EPS versus the $7.90 consensus and revenue of $640.70 million compared with estimates of $590.94 million. Shares opened at $381.16, near the company’s 12-month high of $384.11.
• Two directors recently purchased a combined 2,250 shares, although insiders sold 21,902 shares worth $7.26 million over the past 90 days. Institutional investors remain dominant, owning approximately 95.3% of the outstanding stock.

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $370.8571.

AMG has been the topic of several research reports. TD Cowen reissued a "buy" rating and set a $454.00 price objective on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Sunday, June 28th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a report on Friday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Affiliated Managers Group in a research report on Friday, June 26th.

Insider Buying and Selling

In related news, Director G. Staley Cates purchased 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average cost of $305.83 per share, with a total value of $458,745.00. Following the completion of the acquisition, the director directly owned 6,405 shares in the company, valued at $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Annette Franqui acquired 750 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the transaction, the director owned 1,962 shares in the company, valued at $598,174.56. The trade was a 61.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently bought and sold shares of the company. Leonteq Securities AG purchased a new stake in shares of Affiliated Managers Group in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Affiliated Managers Group during the fourth quarter worth about $42,000. EverSource Wealth Advisors LLC raised its holdings in Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock worth $50,000 after purchasing an additional 56 shares in the last quarter. Arax Advisory Partners raised its holdings in Affiliated Managers Group by 94.1% during the fourth quarter. Arax Advisory Partners now owns 198 shares of the asset manager's stock worth $57,000 after purchasing an additional 96 shares in the last quarter. Finally, WealthCollab LLC lifted its position in Affiliated Managers Group by 40.5% in the first quarter. WealthCollab LLC now owns 229 shares of the asset manager's stock valued at $63,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $381.16 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.79 and a debt-to-equity ratio of 0.76. The firm has a market cap of $10.07 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 0.56 and a beta of 1.12. The company's 50 day simple moving average is $347.48 and its 200-day simple moving average is $315.50. Affiliated Managers Group has a 12-month low of $208.22 and a 12-month high of $384.11.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Wednesday, July 29th. The asset manager reported $8.29 EPS for the quarter, beating analysts' consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business had revenue of $640.70 million for the quarter, compared to analysts' expectations of $590.94 million. During the same period in the previous year, the company posted $5.39 EPS. The company's quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts predict that Affiliated Managers Group will post 35.64 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Monday, August 10th. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.14%.

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.

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