Barrington Research Reiterates "Outperform" Rating for Affiliated Managers Group (NYSE:AMG)

Barrington Research reaffirmed their outperform rating on shares of Affiliated Managers Group (NYSE:AMG - Free Report) in a report issued on Tuesday morning, Benzinga reports. The firm currently has a $190.00 price target on the asset manager's stock.

Affiliated Managers Group Stock Down 1.1 %

Shares of AMG traded down $1.68 on Tuesday, hitting $155.55. The company's stock had a trading volume of 510,382 shares, compared to its average volume of 247,709. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 0.56 and a beta of 1.31. The firm's fifty day moving average price is $161.50 and its 200-day moving average price is $150.00. Affiliated Managers Group has a fifty-two week low of $120.22 and a fifty-two week high of $169.65.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.21 by $0.16. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. The company had revenue of $499.90 million during the quarter, compared to analysts' expectations of $524.53 million. During the same quarter in the prior year, the company earned $4.18 earnings per share. As a group, equities analysts predict that Affiliated Managers Group will post 22.03 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.23%.

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Affiliated Managers Group in the fourth quarter worth $66,223,000. Channing Capital Management LLC boosted its stake in shares of Affiliated Managers Group by 688.9% during the 4th quarter. Channing Capital Management LLC now owns 474,542 shares of the asset manager's stock worth $71,855,000 after buying an additional 414,389 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Affiliated Managers Group by 342.1% during the 4th quarter. New York State Common Retirement Fund now owns 161,375 shares of the asset manager's stock worth $24,435,000 after buying an additional 124,871 shares during the last quarter. Ariel Investments LLC grew its holdings in shares of Affiliated Managers Group by 11.3% in the 3rd quarter. Ariel Investments LLC now owns 1,188,146 shares of the asset manager's stock valued at $154,863,000 after acquiring an additional 120,977 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Affiliated Managers Group by 294.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 148,243 shares of the asset manager's stock valued at $22,447,000 after acquiring an additional 110,646 shares during the last quarter. Institutional investors own 95.30% of the company's stock.

About Affiliated Managers Group

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.