Analysts Set Affiliated Managers Group, Inc. (NYSE:AMG) Price Target at $340.50

Shares of Affiliated Managers Group, Inc. (NYSE:AMGGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $350.1429.

A number of research analysts have commented on the company. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Barrington Research upped their price objective on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group raised their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th.

Check Out Our Latest Stock Report on Affiliated Managers Group

Trending Headlines about Affiliated Managers Group

Here are the key news stories impacting Affiliated Managers Group this week:

Affiliated Managers Group Trading Up 0.1%

NYSE:AMG opened at $329.15 on Tuesday. The firm has a market capitalization of $9.26 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.61 and a beta of 1.21. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $301.48 and a 200 day moving average of $260.77. Affiliated Managers Group has a 52 week low of $139.22 and a 52 week high of $333.99.

Affiliated Managers Group (NYSE:AMGGet Free Report) last released its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.75 by $0.73. The firm had revenue of $556.60 million for the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.53 earnings per share. On average, research analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, February 23rd will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Monday, February 23rd. Affiliated Managers Group’s payout ratio is presently 0.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AMG. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Affiliated Managers Group in the 4th quarter worth about $30,000. Root Financial Partners LLC purchased a new position in Affiliated Managers Group during the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. bought a new stake in Affiliated Managers Group during the third quarter worth about $34,000. Finally, Hantz Financial Services Inc. grew its holdings in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

Receive News & Ratings for Affiliated Managers Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group and related companies with MarketBeat.com's FREE daily email newsletter.