Affiliated Managers Group (NYSE:AMG) Sets New 12-Month High - Here's What Happened

Key Points

• Affiliated Managers Group (NYSE:AMG) shares reached a new 52-week high of $223.02 during trading, closing at $220.33 with a volume of 9,051 shares.
• Analysts are optimistic about the stock, with five buy ratings and an average price target raised to $215.20, indicating a consensus of Moderate Buy.
• The company recently announced a $0.01 quarterly dividend to be paid on August 25th, reflecting a dividend yield of 0.0% and a payout ratio of 0.29%.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $223.02 and last traded at $220.33, with a volume of 9051 shares traded. The stock had previously closed at $219.70.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Monday, August 4th. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Barrington Research reaffirmed an "outperform" rating and issued a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Finally, The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $197.00 to $218.00 in a report on Friday, June 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of "Moderate Buy" and an average price target of $215.20.

Affiliated Managers Group Stock Performance

The stock has a market cap of $6.28 billion, a PE ratio of 16.14, a PEG ratio of 0.61 and a beta of 1.14. The stock's 50-day moving average is $199.46 and its two-hundred day moving average is $179.79.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data 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. 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 firm's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $4.67 EPS. Analysts forecast 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 will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date is Monday, August 11th. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.29%.

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors and hedge funds have recently bought and sold shares of AMG. Envestnet Asset Management Inc. increased its stake in Affiliated Managers Group by 18.4% in the first quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock valued at $9,028,000 after purchasing an additional 8,361 shares during the period. Private Trust Co. NA boosted its holdings in Affiliated Managers Group by 38.1% during the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after buying an additional 83 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Affiliated Managers Group by 785.2% in the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock valued at $315,000 after purchasing an additional 1,649 shares during the last quarter. XTX Topco Ltd raised its position in shares of Affiliated Managers Group by 189.9% during the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager's stock worth $2,469,000 after purchasing an additional 9,626 shares during the last quarter. Finally, Dodge & Cox acquired a new position in shares of Affiliated Managers Group during the 4th quarter worth approximately $1,202,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

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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