News articles about Affiliated Managers Group (NYSE:AMG) have been trending positive on Wednesday, according to Accern Sentiment Analysis. Accern rates the sentiment of media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Affiliated Managers Group earned a media sentiment score of 0.28 on Accern’s scale. Accern also gave news articles about the asset manager an impact score of 47.4443767575778 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
AMG has been the topic of several recent analyst reports. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price target on the stock in a research report on Tuesday, January 2nd. Credit Suisse Group downgraded Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research note on Wednesday, January 3rd. Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 target price on the stock. in a research note on Tuesday, January 9th. Citigroup upgraded Affiliated Managers Group from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Finally, Barrington Research upped their price target on Affiliated Managers Group to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $228.00.
Affiliated Managers Group (NYSE:AMG) traded down $1.49 during trading on Wednesday, reaching $193.46. The company’s stock had a trading volume of 300,235 shares, compared to its average volume of 422,303. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $10,530.00, a PE ratio of 23.22, a price-to-earnings-growth ratio of 0.70 and a beta of 1.55. Affiliated Managers Group has a 12-month low of $148.81 and a 12-month high of $216.99.
Affiliated Managers Group declared that its Board of Directors has initiated a share buyback program on Monday, January 29th that authorizes the company to repurchase 3,400,000 shares. This repurchase authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were issued a $0.30 dividend. The ex-dividend date was Wednesday, February 7th. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.62%. Affiliated Managers Group’s dividend payout ratio is presently 14.41%.
In other news, CFO Jay C. Horgen sold 30,000 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $189.59, for a total value of $5,687,700.00. Following the completion of the transaction, the chief financial officer now directly owns 114,039 shares of the company’s stock, valued at approximately $21,620,654.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
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About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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