Affiliated Managers Group, Inc. (NYSE:AMG) Stock Has Average Price Target of $388.33 According to Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on Affiliated Managers Group, with six buy ratings and one hold rating. The average 12-month price target is $388.33, slightly above the reported share price of $383.98.
• Institutional ownership is substantial, accounting for 95.30% of outstanding shares. BlackRock, Bank of America, and Bank of New York Mellon were among investors that established significant positions during the second quarter.
• AMG exceeded quarterly earnings expectations, reporting $8.29 in EPS versus a $7.90 consensus and revenue of $640.70 million compared with estimates of $590.94 million. Analysts expect full-year EPS of $36.81.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $388.33.

Several research firms recently weighed in on AMG. TD Cowen increased their target price on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the company a "buy" rating in a research note on Monday, October 12th. Weiss Ratings raised Affiliated Managers Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 8th. Zacks Research lowered Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 29th. Barrington Research set a $425.00 price target on Affiliated Managers Group in a research note on Friday, July 31st. Finally, Wall Street Zen cut Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 30th.

Institutional Trading of Affiliated Managers Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $938,294,000. Bank of America Corp DE acquired a new position in shares of Affiliated Managers Group in the 2nd quarter worth approximately $146,331,000. Bank of New York Mellon Corp acquired a new position in shares of Affiliated Managers Group in the 2nd quarter worth approximately $95,418,000. Bruni J V & Co. Co. bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $71,095,810. Finally, Kiltearn Partners LLP bought a new position in shares of Affiliated Managers Group during the 2nd quarter worth approximately $62,464,000. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $383.98 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. Affiliated Managers Group has a one year low of $231.53 and a one year high of $395.00. The company has a fifty day moving average price of $366.62 and a 200 day moving average price of $339.86. The stock has a market cap of $9.93 billion, a P/E ratio of 13.30, a PEG ratio of 0.51 and a beta of 1.07.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. During the same period last year, the business posted $5.39 EPS. The business's quarterly revenue was up .0% on a year-over-year basis. Analysts anticipate that Affiliated Managers Group will post 36.81 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were issued 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 (DPR) is presently 0.14%.

About Affiliated Managers Group

Affiliated Managers Group, Inc NYSE: AMG is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.

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