Affiliated Managers Group (NYSE:AMG) Sets New 12-Month High - Still a Buy?

Key Points

• Affiliated Managers Group's share price hit a new 52-week high, trading at $229.40, while the stock has a consensus rating of "Buy" with an average target price of $215.20.
• The company recently reported quarterly earnings of $5.39 EPS, exceeding estimates, despite a slight decline in revenue compared to the previous year.
• Institutions own approximately 95.30% of Affiliated Managers Group's stock, with several major investors increasing their stakes in the company recently.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $229.40 and last traded at $227.99, with a volume of 189589 shares changing hands. The stock had previously closed at $226.31.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Zacks Research raised Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 22nd. Barrington Research reissued an "outperform" rating and issued a $200.00 target price on shares of Affiliated Managers Group in a report on Tuesday, July 29th. Wall Street Zen downgraded Affiliated Managers Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. 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 raised Affiliated Managers Group from a "neutral" rating to a "buy" rating and increased their target price for the company from $197.00 to $218.00 in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $215.20.

Affiliated Managers Group Stock Up 0.7%

The firm has a 50 day moving average price of $208.10 and a 200 day moving average price of $182.62. The stock has a market cap of $6.48 billion, a P/E ratio of 16.64, a P/E/G ratio of 0.62 and a beta of 1.14.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, topping the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm had revenue of $493.20 million for the quarter, compared to the consensus estimate of $506.46 million. During the same quarter last year, the company earned $4.67 earnings per share. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts predict 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 disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.29%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Clarkston Capital Partners LLC raised its stake in shares of Affiliated Managers Group by 0.8% in the first quarter. Clarkston Capital Partners LLC now owns 1,585,324 shares of the asset manager's stock worth $266,382,000 after buying an additional 13,135 shares during the period. Millennium Management LLC raised its stake in shares of Affiliated Managers Group by 314.3% in the first quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager's stock worth $212,668,000 after buying an additional 960,158 shares during the period. LSV Asset Management raised its stake in Affiliated Managers Group by 1.7% during the 2nd quarter. LSV Asset Management now owns 476,224 shares of the asset manager's stock valued at $93,707,000 after purchasing an additional 8,140 shares during the period. Northern Trust Corp raised its stake in Affiliated Managers Group by 10.2% during the 1st quarter. Northern Trust Corp now owns 385,292 shares of the asset manager's stock valued at $64,741,000 after purchasing an additional 35,681 shares during the period. Finally, Norges Bank bought a new stake in Affiliated Managers Group during the 2nd quarter valued at approximately $71,779,000. Institutional investors 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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