Affiliated Managers Group, Inc. (NYSE:AMG) Receives $350.14 Consensus Target Price from Analysts

Affiliated Managers Group, Inc. (NYSE:AMG) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $350.1429.

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the company a “buy” rating in a research report on Friday, February 13th.

Affiliated Managers Group Stock Up 1.0%

AMG stock opened at $269.97 on Wednesday. The firm has a market cap of $7.20 billion, a PE ratio of 11.70, a PEG ratio of 0.44 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. The firm’s 50 day moving average price is $294.38 and its 200-day moving average price is $277.68. Affiliated Managers Group has a one year low of $140.21 and a one year high of $334.78.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, beating the consensus estimate of $8.75 by $0.73. The firm had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The business’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 EPS. On average, equities research analysts anticipate that Affiliated Managers Group will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

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

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $286.30, for a total value of $2,290,400.00. Following the sale, the chief operating officer owned 159,465 shares of the company’s stock, valued at $45,654,829.50. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $278.24, for a total value of $612,128.00. Following the completion of the sale, the general counsel directly owned 42,672 shares in the company, valued at approximately $11,873,057.28. The trade was a 4.90% decrease in their position. The SEC filing for this sale provides additional information. 4.20% of the stock is owned by insiders.

Institutional Trading of Affiliated Managers Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its position in Affiliated Managers Group by 4.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,311 shares of the asset manager’s stock valued at $955,000 after purchasing an additional 135 shares during the period. Corient Private Wealth LLC raised its position in Affiliated Managers Group by 46.7% in the fourth quarter. Corient Private Wealth LLC now owns 13,468 shares of the asset manager’s stock valued at $3,883,000 after purchasing an additional 4,288 shares during the period. Hsbc Holdings PLC raised its position in Affiliated Managers Group by 643.9% in the fourth quarter. Hsbc Holdings PLC now owns 10,935 shares of the asset manager’s stock valued at $3,158,000 after purchasing an additional 9,465 shares during the period. AG Campbell Advisory LLC purchased a new stake in Affiliated Managers Group in the fourth quarter valued at approximately $239,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Affiliated Managers Group in the fourth quarter valued at approximately $42,000. 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.