Brokerages Set Affiliated Managers Group, Inc. (NYSE:AMG) Price Target at $370.86

Affiliated Managers Group, Inc. (NYSE:AMG) has been assigned an average rating of “Buy” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $370.8571.

Several research firms have commented on AMG. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 target price on shares of Affiliated Managers Group in a report on Monday, May 4th.

Affiliated Managers Group Trading Down 0.7%

NYSE:AMG opened at $372.87 on Tuesday. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.79 and a current ratio of 1.24. Affiliated Managers Group has a 1 year low of $208.34 and a 1 year high of $392.92. The business has a fifty day moving average of $351.71 and a 200-day moving average of $316.69.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Wednesday, July 29th. The asset manager reported $8.29 earnings per share for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. The business had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $5.39 earnings per share. Equities analysts predict that Affiliated Managers Group will post 36.25 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.14%.

Insiders Place Their Bets

In other news, Director Annette Franqui bought 750 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were purchased at an average cost of $304.88 per share, with a total value of $228,660.00. Following the completion of the acquisition, the director directly owned 1,962 shares in the company, valued at approximately $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay C. Horgen sold 17,500 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the completion of the sale, the chief executive officer owned 204,706 shares in the company, valued at approximately $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affiliated Managers Group

Several hedge funds have recently made changes to their positions in AMG. Chase Investment Counsel Corp acquired a new position in shares of Affiliated Managers Group in the 2nd quarter worth approximately $8,776,000. N.E.W. Advisory Services LLC acquired a new stake in Affiliated Managers Group during the second quarter valued at approximately $25,000. Global Retirement Partners LLC acquired a new stake in Affiliated Managers Group during the second quarter valued at approximately $364,000. Bank of New York Mellon Corp bought a new stake in Affiliated Managers Group during the second quarter worth approximately $95,418,000. Finally, State of Wyoming bought a new stake in Affiliated Managers Group during the second quarter worth approximately $245,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

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.