Affiliated Managers Group (NYSE:AMG) Reaches New 1-Year High – Still a Buy?

Affiliated Managers Group, Inc. (NYSE:AMG) hit a new 52-week high on Monday . The company traded as high as $300.69 and last traded at $301.8250, with a volume of 32347 shares changing hands. The stock had previously closed at $288.85.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AMG shares. Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research note on Monday, December 15th. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Barrington Research lifted their price objective on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group increased their target price on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $328.67.

Affiliated Managers Group Price Performance

The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 0.54 and a beta of 1.19. The stock has a fifty day simple moving average of $267.63 and a 200-day simple moving average of $237.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. During the same period in the prior year, the firm posted $4.82 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 13th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Thursday, November 13th. Affiliated Managers Group’s payout ratio is presently 0.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its holdings in shares of Affiliated Managers Group by 13.9% during the fourth quarter. GAMMA Investing LLC now owns 1,518 shares of the asset manager’s stock valued at $438,000 after acquiring an additional 185 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new position in Affiliated Managers Group in the 3rd quarter valued at $321,000. Danske Bank A S purchased a new position in Affiliated Managers Group in the 3rd quarter valued at $3,218,000. Advisory Services Network LLC raised its position in shares of Affiliated Managers Group by 8.5% in the third quarter. Advisory Services Network LLC now owns 3,848 shares of the asset manager’s stock valued at $917,000 after buying an additional 301 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Affiliated Managers Group by 2.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,050 shares of the asset manager’s stock worth $6,926,000 after buying an additional 800 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.