Affiliated Managers Group (NYSE:AMG) Sets New 1-Year High - What's Next?

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

Analyst Ratings Changes

AMG has been the topic of a number of research analyst reports. Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. TD Cowen cut their price target on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Bank of America cut their price target on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Barrington Research cut 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. 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, the company currently has an average rating of "Hold" and a consensus target price of $197.80.

Affiliated Managers Group Stock Performance

The firm has a 50 day simple moving average of $184.69 and a two-hundred day simple moving average of $175.84. The stock has a market cap of $5.88 billion, a P/E ratio of 15.72, a P/E/G ratio of 0.68 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.10. The firm 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 previous year, the business earned $5.37 EPS. As a group, equities research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.01 dividend. 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 0.30%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in Affiliated Managers Group by 79.5% in the fourth 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. Redwood Investment Management LLC raised its position in Affiliated Managers Group by 0.9% in the first quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager's stock worth $1,306,000 after acquiring an additional 69 shares in the last quarter. Cetera Investment Advisers raised its position in Affiliated Managers Group by 2.5% in the fourth quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager's stock worth $536,000 after acquiring an additional 70 shares in the last quarter. Parallel Advisors LLC raised its position in Affiliated Managers Group by 6.8% in the first quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager's stock worth $197,000 after acquiring an additional 75 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after acquiring an additional 75 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

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.