News coverage about Affiliated Managers Group (NYSE:AMG) has been trending positive this week, Accern reports. The research firm identifies negative and positive press coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Affiliated Managers Group earned a media sentiment score of 0.28 on Accern’s scale. Accern also assigned news articles about the asset manager an impact score of 47.4443767575778 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Several equities research analysts have issued reports on AMG shares. Citigroup upgraded shares of Affiliated Managers Group from a “neutral” rating to a “buy” rating in a research note on Friday, January 19th. Credit Suisse Group reaffirmed a “hold” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a report on Friday, January 12th. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price objective on the stock in a report on Tuesday, January 2nd. Barrington Research raised their target price on shares of Affiliated Managers Group to $240.00 and gave the company an “outperform” rating in a research note on Tuesday, January 30th. They noted that the move was a valuation call. Finally, Deutsche Bank raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and lowered their target price for the company from $216.00 to $215.00 in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $228.00.
Shares of Affiliated Managers Group stock opened at $192.26 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.23. The company has a market cap of $10,313.41, a P/E ratio of 15.93, a P/E/G ratio of 0.68 and a beta of 1.55. Affiliated Managers Group has a fifty-two week low of $148.81 and a fifty-two week high of $216.99.
Affiliated Managers Group announced that its Board of Directors has initiated a stock repurchase program on Monday, January 29th that authorizes the company to repurchase 3,400,000 outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Thursday, February 8th were given a $0.30 dividend. This is a positive change from Affiliated Managers Group’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.62%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 9.94%.
In other news, CFO Jay C. Horgen sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $189.59, for a total value of $5,687,700.00. Following the sale, the chief financial officer now owns 114,039 shares in the company, valued at $21,620,654.01. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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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