Brokerages Set Affiliated Managers Group, Inc. (NYSE:AMG) Price Target at $192.40

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned an average recommendation of “Hold” from the five analysts that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $192.40.

AMG has been the topic of several research analyst reports. Bank of America cut their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barrington Research cut their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Finally, TD Cowen cut their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Affiliated Managers Group by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager’s stock worth $593,935,000 after buying an additional 31,343 shares during the period. Clarkston Capital Partners LLC lifted its holdings in shares of Affiliated Managers Group by 0.8% in the 1st quarter. Clarkston Capital Partners LLC now owns 1,585,324 shares of the asset manager’s stock worth $266,382,000 after buying an additional 13,135 shares during the period. Millennium Management LLC lifted its holdings in shares of Affiliated Managers Group by 314.3% in the 1st quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock worth $212,668,000 after buying an additional 960,158 shares during the period. Boston Partners lifted its holdings in shares of Affiliated Managers Group by 46.1% in the 4th quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock worth $218,975,000 after buying an additional 373,696 shares during the period. Finally, Channing Capital Management LLC lifted its holdings in shares of Affiliated Managers Group by 5.5% in the 4th quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock worth $95,156,000 after buying an additional 26,654 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $183.38 on Friday. The company has a market cap of $5.21 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.57 and a beta of 1.06. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13. The business’s 50 day moving average price is $165.43 and its 200-day moving average price is $175.62. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $199.52.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.10. The firm had revenue of $496.60 million for the quarter, compared to the consensus estimate of $508.00 million. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. During the same quarter in the previous year, the company posted $5.37 EPS. Sell-side analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date is Monday, May 19th. Affiliated Managers Group’s dividend payout ratio is 0.30%.

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.