Affiliated Managers Group (NYSE:AMG) Reaches New 52-Week High - Still a Buy?

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $212.07 and last traded at $211.34, with a volume of 29176 shares trading hands. The stock had previously closed at $210.22.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Barrington Research dropped their target price on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Cowen restated a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. Finally, Bank of America decreased their price objective 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $197.80.

Affiliated Managers Group Stock Up 0.3%

The company has a market cap of $5.99 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 0.63 and a beta of 1.09. The stock has a 50 day moving average price of $189.84 and a two-hundred day moving average price of $177.07.

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 business had revenue of $496.60 million for the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. During the same quarter in the prior year, the business posted $5.37 earnings per share. Equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.01 dividend. 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 dividend payout ratio is presently 0.30%.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds have recently modified their holdings of AMG. Millstone Evans Group LLC lifted its stake in shares of Affiliated Managers Group by 154.5% in the 1st 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 increased its holdings in Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after purchasing an additional 75 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Affiliated Managers Group during the first quarter worth 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 acquiring an additional 102 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock valued at $51,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

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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