Affiliated Managers Group, Inc. (NYSE:AMG) Receives $197.80 Consensus Target Price from Analysts

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $197.80.

Several equities research analysts recently commented on AMG shares. Bank of America cut their price target on shares of Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. TD Cowen cut their price target on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Barrington Research cut their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $197.00 to $218.00 in a report on Friday, June 27th.

Institutional Investors Weigh In On Affiliated Managers Group

A number of large investors have recently modified their holdings of AMG. Millstone Evans Group LLC grew its holdings in shares of Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $28,000 after purchasing an additional 102 shares during the period. Versant Capital Management Inc grew its holdings in shares of Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after purchasing an additional 75 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Affiliated Managers Group in the first quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Affiliated Managers Group by 80.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager's stock valued at $45,000 after purchasing an additional 102 shares during the period. Finally, American National Bank & Trust purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at about $58,000. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Shares of AMG traded up $4.89 during trading hours on Friday, hitting $216.06. The stock had a trading volume of 258,552 shares, compared to its average volume of 234,218. The firm has a 50-day moving average price of $190.44 and a 200 day moving average price of $177.25. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $216.20. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 0.64 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.10. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. The firm had revenue of $496.60 million during the quarter, compared to analysts' expectations of $508.00 million. During the same period in the previous year, the business posted $5.37 EPS. As a group, analysts predict that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Monday, May 19th. Affiliated Managers Group's payout ratio is 0.30%.

About Affiliated Managers Group

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.