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

Key Points

• Affiliated Managers Group (NYSE: AMG) received an average analyst rating of “Moderate Buy”, with seven of eight analysts rating it a buy and an average 12-month price target of about $362.29.
• The company reported better-than-expected quarterly earnings, posting EPS of $8.23 versus estimates of $8.10, while revenue rose 9.7% year over year to $544.9 million.
• Recent trading activity included a director purchase of 1,500 shares by G. Staley Cates, while insiders sold 14,602 shares over the past three months; institutional investors now own 95.3% of the stock.

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $362.2857.

AMG has been the subject of a number of research analyst reports. TD Cowen reaffirmed a "buy" rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Barrington Research reaffirmed an "outperform" rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $405.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th.

Insiders Place Their Bets

In other Affiliated Managers Group news, Director G. Staley Cates bought 1,500 shares of the company's stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the acquisition, the director directly owned 6,405 shares of the company's stock, valued at $1,958,841.15. This trade represents a 30.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the sale, the general counsel owned 42,672 shares in the company, valued at $11,873,057.28. The trade was a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 14,602 shares of company stock worth $4,240,522. Company insiders own 2.90% of the company's stock.

Institutional Trading of Affiliated Managers Group

A number of hedge funds and other institutional investors have recently made changes to their positions in AMG. Leonteq Securities AG bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth approximately $30,000. Root Financial Partners LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter worth approximately $33,000. Hantz Financial Services Inc. raised its holdings in shares of Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock worth $34,000 after purchasing an additional 93 shares in the last quarter. Millstone Evans Group LLC raised its holdings in shares of Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager's stock worth $42,000 after purchasing an additional 52 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth approximately $42,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Trading Up 2.3%

Shares of NYSE:AMG opened at $301.70 on Thursday. The company has a 50 day moving average of $287.05 and a 200-day moving average of $289.46. The firm has a market cap of $7.97 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.51 and a beta of 1.14. Affiliated Managers Group has a twelve month low of $172.54 and a twelve month high of $334.78. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping analysts' consensus estimates of $8.10 by $0.13. The company had revenue of $544.90 million during 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%. The business's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $5.37 EPS. As a group, analysts anticipate that Affiliated Managers Group will post 34.27 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Monday, May 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Monday, May 11th. Affiliated Managers Group's payout ratio is presently 0.16%.

Affiliated Managers Group Company Profile

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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