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

Key Points

• Analysts have given Affiliated Managers Group (NYSE:AMG) an average rating of "Buy," with seven firms recommending to buy and one indicating a strong buy, while the average price target is set at $263.60.
• The company's recent earnings report showed an EPS of $5.39, exceeding estimates, but revenue of $493.20 million fell short of projections, marking a 1.4% decline year-over-year.
• A recent dividend was paid at a rate of $0.01 per share, translating to an annual yield of 0.0%, indicating a modest distribution to shareholders.

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) have been given an average rating of "Buy" by the eight research firms that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $263.60.

Several research firms have commented on AMG. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Bank of America boosted their price objective on shares of Affiliated Managers Group to $335.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. The Goldman Sachs Group boosted their price objective on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday. Weiss Ratings restated a "buy (b-)" rating on shares of Affiliated Managers Group in a research note on Saturday, September 27th. Finally, Barrington Research restated an "outperform" rating and issued a $240.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, September 23rd.

Affiliated Managers Group Stock Down 2.2%

AMG stock opened at $239.40 on Wednesday. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 0.63 and a beta of 1.21. Affiliated Managers Group has a 12 month low of $139.22 and a 12 month high of $250.15. The firm has a 50 day moving average of $227.91 and a two-hundred day moving average of $196.68.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, topping the consensus estimate of $5.26 by $0.13. The company had revenue of $493.20 million during the quarter, compared to the consensus estimate of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.67 earnings per share. On average, research analysts expect that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid 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 was Monday, August 11th. Affiliated Managers Group's payout ratio is presently 0.29%.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the business's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the sale, the chief operating officer directly owned 158,710 shares in the company, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Affiliated Managers Group

Several large investors have recently bought and sold shares of AMG. Millennium Management LLC raised its stake in Affiliated Managers Group by 314.3% during the 1st quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager's stock valued at $212,668,000 after purchasing an additional 960,158 shares during the last quarter. Norges Bank acquired a new position in Affiliated Managers Group during the 2nd quarter valued at $71,779,000. Balyasny Asset Management L.P. raised its stake in Affiliated Managers Group by 3,811.8% during the 2nd quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager's stock valued at $61,271,000 after purchasing an additional 303,423 shares during the last quarter. Holocene Advisors LP acquired a new position in Affiliated Managers Group during the 2nd quarter valued at $19,865,000. Finally, Nuveen LLC acquired a new position in Affiliated Managers Group during the 1st quarter valued at $16,060,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.

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