Affiliated Managers Group (NYSE:AMG) Reaches New 12-Month High - What's Next?

Key Points

• Affiliated Managers Group's stock reached a new 52-week high at $236.16, marking an increase from its previous close of $232.44.
• Analysts have mixed views, with TD Cowen upgrading the stock to a "buy" rating with a target of $255, while Wall Street Zen downgraded it to "hold"; the average target price is $242.40.
• The company recently declared a quarterly dividend of $0.01 per share, reflecting an annualized amount of $0.04, with a payout ratio of 0.29%.

Shares of Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $236.05 and last traded at $236.16, with a volume of 10811 shares traded. The stock had previously closed at $232.44.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMG shares. Wall Street Zen cut shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Saturday. Barrington Research reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, July 29th. The Goldman Sachs Group raised 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 report on Friday, June 27th. Bank of America raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $236.00 to $331.00 in a research report on Tuesday, September 2nd. Finally, TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $214.00 to $255.00 in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to MarketBeat.com, Affiliated Managers Group has a consensus rating of "Buy" and an average target price of $242.40.

Affiliated Managers Group Price Performance

The firm's 50 day moving average price is $217.78 and its 200-day moving average price is $188.42. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 0.62 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $493.20 million for the quarter, compared to the consensus estimate of $506.46 million. During the same quarter in the previous year, the company earned $4.67 earnings per share. The business's revenue was down 1.4% compared to the same quarter last year. Analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were 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 of this dividend was Monday, August 11th. Affiliated Managers Group's payout ratio is currently 0.29%.

Insiders Place Their Bets

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the sale, the chief operating officer directly owned 158,710 shares of the company's stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Affiliated Managers Group by 428.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager's stock valued at $26,000 after purchasing an additional 107 shares during the period. Millstone Evans Group LLC grew its position 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 grew its position in shares of Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock valued at $30,000 after purchasing an additional 75 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Affiliated Managers Group in the 1st quarter valued at approximately $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Affiliated Managers Group by 80.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager's stock worth $45,000 after acquiring an additional 102 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Company Profile

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.