Affiliated Managers Group (NYSE:AMG) Reaches New 12-Month High - What's Next?

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) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $229.40 and last traded at $227.99, with a volume of 189589 shares trading hands. The stock had previously closed at $226.31.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMG. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Bank of America raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $236.00 to $331.00 in a research report on Tuesday. The Goldman Sachs Group raised shares of 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 research report on Friday, June 27th. Zacks Research raised shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. Finally, Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $242.40.

Affiliated Managers Group Stock Up 0.9%

The firm's fifty day moving average price is $210.58 and its two-hundred day moving average price is $183.93. The stock has a market capitalization of $6.45 billion, a PE ratio of 16.61, a PEG ratio of 0.62 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The asset manager reported $5.39 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $493.20 million during the quarter, compared to analysts' expectations of $506.46 million. During the same period in the previous year, the company earned $4.67 earnings per share. The firm's quarterly revenue was down 1.4% on a year-over-year basis. As a group, analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Institutional Trading of Affiliated Managers Group

Several large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC grew its position in Affiliated Managers Group by 93.9% during the second quarter. Advisory Services Network LLC now owns 3,547 shares of the asset manager's stock valued at $744,000 after buying an additional 1,718 shares during the period. State of Wyoming bought a new stake in Affiliated Managers Group during the second quarter valued at approximately $73,000. SkyView Investment Advisors LLC grew its position in Affiliated Managers Group by 3.3% during the second quarter. SkyView Investment Advisors LLC now owns 6,997 shares of the asset manager's stock valued at $1,383,000 after buying an additional 226 shares during the period. Tidal Investments LLC bought a new stake in Affiliated Managers Group during the second quarter valued at approximately $305,000. Finally, Man Group plc grew its position in Affiliated Managers Group by 8.6% during the second quarter. Man Group plc now owns 74,077 shares of the asset manager's stock valued at $14,576,000 after buying an additional 5,855 shares during the period. 95.30% of the stock is currently owned by 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.