Affiliated Managers Group, Inc. (NYSE:AMG) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) have been given an average rating of "Moderate Buy" by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $197.80.

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

Institutional Trading of Affiliated Managers Group

A number of hedge funds and other institutional investors have recently bought and sold shares of AMG. Truist Financial Corp grew its stake in shares of Affiliated Managers Group by 15.7% in the 4th quarter. Truist Financial Corp now owns 2,699 shares of the asset manager's stock worth $499,000 after acquiring an additional 366 shares in the last quarter. Amalgamated Bank grew its stake in shares of Affiliated Managers Group by 1.9% in the 4th quarter. Amalgamated Bank now owns 14,363 shares of the asset manager's stock worth $2,656,000 after acquiring an additional 261 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Affiliated Managers Group by 0.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,147 shares of the asset manager's stock worth $1,137,000 after acquiring an additional 55 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth $4,377,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Affiliated Managers Group in the 4th quarter worth $220,000. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG opened at $197.61 on Monday. The company has a market capitalization of $5.62 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 0.66 and a beta of 1.08. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $199.52. The company's 50 day moving average price is $177.59 and its 200-day moving average price is $174.62.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.10. The firm had revenue of $496.60 million for the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a net margin of 21.31% and a return on equity of 15.91%. During the same quarter in the previous year, the company earned $5.37 EPS. Analysts forecast that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

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