Affiliated Managers Group (NYSE:AMG) Hits New 12-Month High - Should You Buy?

Key Points

• Affiliated Managers Group reached a new 52-week high of $239.37, increasing its stock price by 1.3% and reflecting growing investor interest.
• Analysts have shifted their ratings, with Zacks Research upgrading AMG from "hold" to "strong-buy" and TD Cowen raising their price objective from $214 to $255.
• The company recently announced earnings of $5.39 per share, exceeding expectations, though revenue fell short of estimates, down 1.4% year-over-year.

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $239.32 and last traded at $239.37, with a volume of 59271 shares. The stock had previously closed at $234.78.

Wall Street Analysts Forecast Growth

AMG has been the topic of a number of research analyst reports. Zacks Research upgraded Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. Bank of America upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $236.00 to $331.00 in a research report on Tuesday, September 2nd. Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Saturday, September 13th. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their price target for the company from $214.00 to $255.00 in a report on Monday, August 4th. Finally, The Goldman Sachs Group raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their price target for the company from $197.00 to $218.00 in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $242.40.

Affiliated Managers Group Trading Down 0.5%

The firm has a 50 day moving average price of $220.64 and a 200-day moving average price of $190.35. The firm has a market cap of $6.91 billion, a PE ratio of 17.74, a PEG ratio of 0.64 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.13. The business had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $4.67 EPS. Equities analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, August 11th. Affiliated Managers Group's dividend payout ratio (DPR) is 0.29%.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of Affiliated Managers Group stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the sale, the chief operating officer directly owned 158,710 shares in the company, valued at $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.20% of the company's stock.

Institutional Trading of Affiliated Managers Group

Institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Affiliated Managers Group by 428.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager's stock worth $26,000 after purchasing an additional 107 shares in the last quarter. Millstone Evans Group LLC lifted its position in Affiliated Managers Group by 154.5% during the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after buying an additional 102 shares during the period. Versant Capital Management Inc lifted its position in 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 during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Affiliated Managers Group during the first quarter worth about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position 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 worth $45,000 after buying an additional 102 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.