Affiliated Managers Group, Inc. (NYSE:AMG) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Analysts remain bullish on Affiliated Managers Group: all eight covering analysts rate the stock Buy or Strong Buy, with an average 12-month price target of approximately $370.86.
• AMG beat quarterly expectations, reporting $8.29 in earnings per share versus the $7.90 consensus estimate and revenue of $640.70 million, above forecasts of $590.94 million.
• The stock opened at $360.69, down 1.1%, while institutional investors own a substantial 95.3% of outstanding shares; AMG also pays a nominal $0.04 annualized dividend.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) has been given a consensus rating of "Buy" by the eight analysts that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $370.8571.

AMG has been the topic of a number of recent analyst reports. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a research note on Friday, July 31st. Wall Street Zen cut Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Finally, Zacks Research raised shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th.

Affiliated Managers Group Trading Down 1.1%

Shares of NYSE:AMG opened at $360.69 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $9.33 billion, a PE ratio of 12.49, a P/E/G ratio of 0.49 and a beta of 1.10. Affiliated Managers Group has a 1 year low of $230.10 and a 1 year high of $392.92. The firm has a fifty day moving average price of $363.11 and a 200 day moving average price of $327.89.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The business's revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned $5.39 earnings per share. Analysts expect that Affiliated Managers Group will post 36.69 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were paid a $0.01 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group's dividend payout ratio (DPR) is presently 0.14%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. N.E.W. Advisory Services LLC bought a new stake in Affiliated Managers Group in the 2nd quarter valued at $25,000. Leonteq Securities AG acquired a new position in shares of Affiliated Managers Group in the 4th quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth about $48,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group during the 4th quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock valued at $50,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc NYSE: AMG is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG's affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.

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