Affiliated Managers Group (NYSE:AMG) Sets New 1-Year High - Should You Buy?

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $199.57 and last traded at $199.38, with a volume of 210072 shares changing hands. The stock had previously closed at $196.77.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. TD Cowen lowered their price target on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Barrington Research lowered their target price on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Bank of America cut their price target on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Finally, Cowen restated a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group presently has an average rating of "Hold" and a consensus price target of $197.80.

Affiliated Managers Group Price Performance

The firm has a market capitalization of $5.70 billion, a PE ratio of 15.24, a P/E/G ratio of 0.66 and a beta of 1.09. The company has a 50-day moving average price of $179.26 and a 200-day moving average price of $174.86.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. The company had revenue of $496.60 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $5.37 EPS. On average, research analysts predict that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given 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 currently 0.30%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AMG. Truist Financial Corp increased its stake in Affiliated Managers Group by 15.7% in the fourth quarter. Truist Financial Corp now owns 2,699 shares of the asset manager's stock valued at $499,000 after purchasing an additional 366 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Affiliated Managers Group in the 4th quarter valued at about $4,377,000. QRG Capital Management Inc. purchased a new stake in Affiliated Managers Group in the 4th quarter valued at about $220,000. Private Trust Co. NA lifted its holdings in shares of Affiliated Managers Group by 131.9% during the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after acquiring an additional 124 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of Affiliated Managers Group in the fourth quarter worth approximately $209,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.