Affiliated Managers Group, Inc., through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments. The company also offers investment products in various investment styles in the institutional distribution channel, including small, small/mid, mid, and large capitalization value and growth equity, and emerging markets. In addition, it offers quantitative, alternative, and fixed income products, and manages assets for foundations and endowments, defined benefit, and defined contribution plans for corporations and municipalities. Affiliated Managers Group provides investment management or customized investment counseling and fiduciary services. Affiliated Managers Group, Inc. was formed in 1993 and is based in West Palm Beach, Florida with additional offices in Prides Crossing, Massachusetts; Stamford, Connecticut; London, United Kingdom; Dubai, United Arab Emirates; Sydney, Australia; Hong Kong; Tokyo, Japan, Zurich, Switzerland and Delaware.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on AMG shares. Citigroup decreased their price target on shares of Affiliated Managers Group from $241.00 to $222.00 in a research note on Tuesday, May 3rd. Keefe, Bruyette & Woods decreased their price target on shares of Affiliated Managers Group from $167.00 to $150.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 28th. Barrington Research decreased their price target on shares of Affiliated Managers Group from $190.00 to $160.00 in a research note on Monday, May 2nd. StockNews.com upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Thursday, July 7th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affiliated Managers Group from $133.00 to $154.00 in a report on Tuesday, August 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $174.40.
Affiliated Managers Group Stock Up 3.9 %
Shares of AMG Stock traded up $5.03 during trading hours on Wednesday, hitting $135.25. 231,053 shares of the company were exchanged, compared to its average volume of 264,832. The firm has a market cap of $5.27 billion, a PE ratio of 10.18, a PEG ratio of 0.74 and a beta of 1.31. Affiliated Managers Group has a 1 year low of $109.57 and a 1 year high of $191.62. The firm has a fifty day moving average of $122.89 and a 200 day moving average of $131.20.
Affiliated Managers Group (NYSE:AMG - Get Rating) last posted its quarterly earnings results on Monday, August 1st. The asset manager reported $4.03 EPS for the quarter, beating the consensus estimate of $3.95 by $0.08. Affiliated Managers Group had a net margin of 22.69% and a return on equity of 21.89%. During the same period last year, the business earned $4.03 EPS. Analysts expect that Affiliated Managers Group will post 18.61 earnings per share for the current year.
Affiliated Managers Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.03%. Affiliated Managers Group's payout ratio is 0.30%.