Affiliated Managers Group (NYSE:AMG) Sets New 1-Year 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%.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company 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 Ratings Changes

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. TD Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their price objective for the company from $214.00 to $255.00 in a report on Monday, August 4th. Barrington Research reiterated an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Cowen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $197.00 to $218.00 in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of "Buy" and an average target price of $242.40.

Affiliated Managers Group Stock Up 1.7%

The business has a 50-day simple moving average of $215.72 and a two-hundred day simple moving average of $186.73. The company has a market cap of $6.71 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 0.61 and a beta of 1.19.

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, beating the consensus estimate of $5.26 by $0.13. The firm had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The business's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $4.67 EPS. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's payout ratio is currently 0.29%.

Insider Activity

In related news, COO Thomas M. Wojcik sold 16,000 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the transaction, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Affiliated Managers Group

Large investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in 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 last quarter. Millstone Evans Group LLC grew its holdings in Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after acquiring an additional 102 shares during the period. Versant Capital Management Inc grew 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 acquiring an additional 75 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Affiliated Managers Group during the 1st quarter worth about $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Affiliated Managers Group by 80.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager's stock worth $45,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

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.

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