Affiliated Managers Group (NYSE:AMG) Stock Price Down 4.2% – Here’s What Happened

Affiliated Managers Group, Inc. (NYSE:AMG) shares were down 4.2% during mid-day trading on Friday . The stock traded as low as $317.24 and last traded at $316.89. Approximately 4,911 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 426,936 shares. The stock had previously closed at $330.75.

Analysts Set New Price Targets

AMG has been the topic of a number of analyst reports. The Goldman Sachs Group increased 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. Barrington Research lifted their price target on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. Wall Street Zen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. UBS Group set a $295.00 price objective on Affiliated Managers Group in a research report on Tuesday, November 4th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 target price on Affiliated Managers Group and gave the stock a “buy” rating in a research note on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and an average target price of $350.14.

Affiliated Managers Group Trading Down 9.8%

The stock has a market cap of $7.76 billion, a PE ratio of 12.50, a PEG ratio of 0.55 and a beta of 1.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a fifty day moving average price of $305.54 and a 200 day moving average price of $263.67.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, topping the consensus estimate of $8.75 by $0.73. The firm had revenue of $556.60 million for the quarter, compared to the consensus estimate of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.53 earnings per share. Equities analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, February 23rd will be issued 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 dividend payout ratio (DPR) is presently 0.17%.

Institutional Investors Weigh In On Affiliated Managers Group

A number of large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in shares of Affiliated Managers Group by 1.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after purchasing an additional 1,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Affiliated Managers Group by 4.6% during the 1st 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 purchasing an additional 6,262 shares during the last quarter. Jane Street Group LLC purchased a new position in Affiliated Managers Group during the first quarter worth about $1,947,000. Sequoia Financial Advisors LLC acquired a new position in Affiliated Managers Group in the second quarter valued at about $323,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Affiliated Managers Group by 79.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

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.