Affiliated Managers Group, Inc. (NYSE:AMG) Stock Has Consensus Price Target of $453.25

Key Points

• Analysts have a “Moderate Buy” consensus: five of six covering brokerages rate AMG a buy, and the average one-year price target is $453.25. TD Cowen raised its target to $583.
• AMG reported quarterly EPS of $9.50, beating the $8.79 consensus, but revenue of $595.2 million fell short of analysts’ $655.08 million estimate.
• Shares opened at $402.01, near the stock’s one-year high of $408.07; institutional investors own 95.3% of the company’s shares.

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $453.25.

AMG has been the topic of a number of research analyst reports. TD Cowen upped their target price on Affiliated Managers Group from $523.00 to $583.00 and gave the stock a "buy" rating in a research note on Tuesday. Wall Street Zen cut Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 30th. Zacks Research downgraded Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Affiliated Managers Group from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 8th.

Affiliated Managers Group Stock Up 0.2%

Shares of NYSE:AMG opened at $402.01 on Thursday. The firm has a fifty day moving average price of $373.43 and a two-hundred day moving average price of $334.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.20 and a quick ratio of 1.24. Affiliated Managers Group has a one year low of $246.11 and a one year high of $408.07. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.51 and a beta of 1.05.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Monday, November 9th. The asset manager reported $9.50 EPS for the quarter, beating analysts' consensus estimates of $8.79 by $0.71. Affiliated Managers Group had a net margin of 34.96% and a return on equity of 24.44%. The firm had revenue of $595.20 million during the quarter, compared to analyst estimates of $655.08 million. During the same period in the previous year, the business earned $6.10 EPS. The business's revenue for the quarter was up .0% on a year-over-year basis. Analysts anticipate that Affiliated Managers Group will post 37.43 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, November 19th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group's payout ratio is presently 0.14%.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mather Group LLC. raised its position in shares of Affiliated Managers Group by 335.3% during the 3rd quarter. Mather Group LLC. now owns 74 shares of the asset manager's stock valued at $27,000 after buying an additional 57 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Affiliated Managers Group in the second quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Affiliated Managers Group in the second quarter worth $48,000. EverSource Wealth Advisors LLC grew its position in Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock worth $50,000 after acquiring an additional 56 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Affiliated Managers Group in the second quarter valued at $61,000. Hedge funds and other 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 independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.

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