Affiliated Managers Group (NYSE:AMG) Reaches New 1-Year High - Time to Buy?

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $203.42 and last traded at $201.20, with a volume of 61992 shares traded. The stock had previously closed at $201.45.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AMG shares. TD Cowen cut their target price on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Barrington Research lowered their price target 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. The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $197.00 to $218.00 in a report on Friday, June 27th. Finally, Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Affiliated Managers Group has an average rating of "Hold" and a consensus price target of $197.80.

Affiliated Managers Group Price Performance

The business has a 50 day simple moving average of $182.40 and a 200 day simple moving average of $175.31. The stock has a market cap of $5.71 billion, a PE ratio of 15.27, a P/E/G ratio of 0.68 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.10. The company had revenue of $496.60 million during 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 company posted $5.37 EPS. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.30%.

Institutional Trading of Affiliated Managers Group

Several large investors have recently made changes to their positions in AMG. Jones Financial Companies Lllp boosted its stake in shares of Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Millstone Evans Group LLC boosted its stake in shares of 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 in the last quarter. Versant Capital Management Inc lifted its position in shares of 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Affiliated Managers Group during the 1st quarter valued at approximately $36,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 valued at $45,000 after purchasing an additional 102 shares during the period. Institutional investors 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.