Affiliated Managers Group (NYSE:AMG) Sets New 1-Year High – What’s Next?

Affiliated Managers Group, Inc. (NYSE:AMG)’s share price reached a new 52-week high during mid-day trading on Thursday. The stock traded as high as $393.42 and last traded at $391.2450, with a volume of 168493 shares. The stock had previously closed at $377.09.

Analyst Ratings Changes

A number of brokerages have recently commented on AMG. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Tuesday, September 22nd. TD Cowen reaffirmed a “buy” rating and set a $512.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, September 29th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Finally, Barrington Research set a $425.00 price target on Affiliated Managers Group in a research note on Friday, July 31st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.50.

Affiliated Managers Group Stock Performance

The firm’s fifty day moving average is $365.46 and its 200 day moving average is $335.06. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The company had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.39 EPS. On average, analysts predict that Affiliated Managers Group, Inc. will post 36.75 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, August 10th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. N.E.W. Advisory Services LLC purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Affiliated Managers Group in the fourth quarter worth approximately $42,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Affiliated Managers Group during the second quarter valued at approximately $48,000. EverSource Wealth Advisors LLC raised its position in Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 56 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $61,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.