Brokerages Set Affiliated Managers Group, Inc. (NYSE:AMG) Target Price at $272.60

Affiliated Managers Group, Inc. (NYSE:AMG) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $278.5714.

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. UBS Group set a $295.00 price target on shares of Affiliated Managers Group in a research note on Tuesday. The Goldman Sachs Group increased their price target on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $282.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday.

Affiliated Managers Group Stock Up 0.0%

Shares of AMG stock opened at $258.87 on Friday. The stock’s 50-day moving average price is $239.11 and its 200 day moving average price is $210.22. The stock has a market capitalization of $7.36 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.61 and a beta of 1.25. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $261.32.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The company had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. During the same period last year, the firm earned $4.82 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts expect that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Thursday, November 13th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

Insider Buying and Selling at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affiliated Managers Group

Several institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in Affiliated Managers Group by 18.4% during the first quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock worth $9,028,000 after buying an additional 8,361 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Affiliated Managers Group by 38.1% during the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock valued at $51,000 after acquiring an additional 83 shares during the last quarter. XTX Topco Ltd increased its position in Affiliated Managers Group by 189.9% during the 1st quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager’s stock worth $2,469,000 after purchasing an additional 9,626 shares in the last quarter. Voya Investment Management LLC raised its stake in Affiliated Managers Group by 52.2% in the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock valued at $4,823,000 after purchasing an additional 9,845 shares during the last quarter. Finally, Goodman Financial Corp lifted its holdings in Affiliated Managers Group by 1.6% in the 1st quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock valued at $13,578,000 after purchasing an additional 1,301 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

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.