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

Key Points

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Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $215.20.

Several analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, July 29th. Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their target price for the company from $214.00 to $255.00 in a report on Monday, August 4th. Finally, Wall Street Zen downgraded shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th.

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Redwood Investment Management LLC grew its holdings in shares of Affiliated Managers Group by 0.9% during the first quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager's stock worth $1,306,000 after buying an additional 69 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Affiliated Managers Group by 2.5% during the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock worth $536,000 after buying an additional 70 shares in the last quarter. Guinness Asset Management LTD grew its holdings in shares of Affiliated Managers Group by 2.4% during the second quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager's stock worth $629,000 after buying an additional 74 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Affiliated Managers Group by 6.8% during the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock worth $197,000 after buying an additional 75 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Affiliated Managers Group by 70.8% during the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after buying an additional 75 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

AMG stock opened at $219.19 on Tuesday. Affiliated Managers Group has a one year low of $139.22 and a one year high of $224.30. The stock has a market capitalization of $6.23 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 0.62 and a beta of 1.14. The company has a fifty day moving average of $202.65 and a 200-day moving average of $180.65.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released 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. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The company had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. During the same quarter last year, the business earned $4.67 EPS. The business's revenue was down 1.4% on a year-over-year basis. Equities analysts forecast that Affiliated Managers Group will post 22.86 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 Monday, August 25th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Monday, August 11th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.29%.

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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