Affiliated Managers Group (NYSE:AMG) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Affiliated Managers Group (NYSE:AMG) from a hold rating to a buy rating in a report released on Saturday morning.

Several other research firms have also recently commented on AMG. Weiss Ratings reissued a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. TD Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. The Goldman Sachs Group raised their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Barrington Research lifted their target price on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $340.50.

Affiliated Managers Group Trading Up 0.2%

AMG opened at $313.24 on Friday. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $333.99. The firm has a market capitalization of $8.81 billion, a PE ratio of 18.66, a P/E/G ratio of 0.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company’s 50-day moving average is $292.83 and its 200 day moving average is $253.67.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. During the same period in the previous year, the company posted $4.82 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Institutional Trading of Affiliated Managers Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its stake in Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after buying an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Affiliated Managers Group by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after acquiring an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Affiliated Managers Group in the first quarter worth $1,947,000. Truist Financial Corp grew its position in shares of Affiliated Managers Group by 6.1% in the second quarter. Truist Financial Corp now owns 2,409 shares of the asset manager’s stock valued at $474,000 after purchasing an additional 139 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of Affiliated Managers Group in the second quarter valued at $3,832,000. 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 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.