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

Key Points

• Affiliated Managers Group currently has a consensus analyst rating of “Moderate Buy” from eight brokerages, with seven buy ratings and one hold. The average 1-year target price is about $362.29.
• The company recently reported better-than-expected quarterly earnings, posting EPS of $8.23 versus estimates of $8.10, while revenue also came in slightly above forecasts at $544.9 million. Revenue grew 9.7% year over year.
• Insider activity has been mixed: CEO Jay C. Horgen sold 17,500 shares, while director G. Staley Cates bought 1,500 shares. Despite the sales, the stock remains heavily owned by institutions, with 95.3% held by hedge funds and other institutional investors.

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 stock, Marketbeat Ratings 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 1-year target price among brokers that have issued a report on the stock in the last year is $362.2857.

Several brokerages have recently weighed in on AMG. TD Cowen reissued a "buy" rating and set a $454.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Barrington Research reiterated an "outperform" rating and issued a $365.00 price target on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 17,500 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the transaction, the chief executive officer owned 204,706 shares in the company, valued at $69,245,898.62. This represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director G. Staley Cates bought 1,500 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of $305.83 per share, for a total transaction of $458,745.00. Following the transaction, the director directly owned 6,405 shares of the company's stock, valued at approximately $1,958,841.15. This represents a 30.58% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 21,902 shares of company stock valued at $7,257,719 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new stake in Affiliated Managers Group during the 2nd quarter worth $1,019,000. Westmount Partners LLC acquired a new position in Affiliated Managers Group in the second quarter valued at $224,000. GAMMA Investing LLC raised its holdings in shares of Affiliated Managers Group by 2.2% in the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager's stock valued at $539,000 after buying an additional 34 shares during the last quarter. Redwood Investment Management LLC acquired a new stake in shares of Affiliated Managers Group during the first quarter worth about $1,050,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Affiliated Managers Group by 31.2% during the first quarter. Pacer Advisors Inc. now owns 4,419 shares of the asset manager's stock worth $1,223,000 after buying an additional 1,052 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $365.13 on Friday. The firm has a market capitalization of $9.64 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. The business's fifty day moving average price is $325.63 and its 200 day moving average price is $307.57. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. Affiliated Managers Group has a 12 month low of $199.59 and a 12 month high of $366.47.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, beating analysts' consensus estimates of $8.10 by $0.13. The company had revenue of $544.90 million for the quarter, compared to analysts' expectations of $544.01 million. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.Affiliated Managers Group's quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $5.37 earnings per share. On average, sell-side analysts anticipate that Affiliated Managers Group will post 34.88 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Monday, May 11th. Affiliated Managers Group's dividend payout ratio (DPR) is currently 0.16%.

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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