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

Key Points

• Affiliated Managers Group has a consensus “Buy” rating from eight brokerages, with seven buy ratings and one strong-buy rating. The average 12-month price target is approximately $370.86, with individual targets reaching $454.
• AMG reported quarterly EPS of $8.29, exceeding estimates of $7.90, while revenue of $640.7 million also surpassed expectations. Analysts forecast full-year EPS of $36.69.
• The stock recently traded at $371.22, near its 12-month high of $392.92, while institutional investors own 95.3% of shares. CEO Jay Horgen sold shares, whereas director Annette Franqui increased her holdings through a stock purchase.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) has received a consensus rating of "Buy" from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $370.8571.

A number of equities analysts have recently commented on AMG shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $400.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Affiliated Managers Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 22nd. TD Cowen restated a "buy" rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th.

Insider Transactions at Affiliated Managers Group

In other news, CEO Jay C. Horgen sold 17,500 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the sale, the chief executive officer owned 204,706 shares of the company's stock, valued at approximately $69,245,898.62. This trade represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Annette Franqui bought 750 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $304.88 per share, with a total value of $228,660.00. Following the purchase, the director owned 1,962 shares of the company's stock, valued at $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. N.E.W. Advisory Services LLC acquired a new stake in Affiliated Managers Group during the 2nd quarter worth $25,000. Leonteq Securities AG acquired a new position in Affiliated Managers Group in the fourth quarter valued at $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Affiliated Managers Group during the second quarter worth about $48,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Affiliated Managers Group during the fourth quarter worth about $42,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock worth $50,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Trading Up 0.2%

NYSE:AMG opened at $371.22 on Friday. The firm has a market cap of $9.60 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 0.50 and a beta of 1.11. The stock has a fifty day moving average price of $360.58 and a 200 day moving average price of $322.25. Affiliated Managers Group has a 12-month low of $223.44 and a 12-month high of $392.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76.

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

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, August 10th. Affiliated Managers Group's dividend payout ratio is currently 0.14%.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc NYSE: AMG is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates' distribution capabilities, operational infrastructure and access to capital.

The company's core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source