Affiliated Managers Group (NYSE:AMG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a strong-buy rating in a research note published on Saturday.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. TD Cowen reiterated a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $370.86.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $359.08 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group has a 52 week low of $223.44 and a 52 week high of $392.92. The firm has a market capitalization of $9.29 billion, a PE ratio of 12.44, a P/E/G ratio of 0.48 and a beta of 1.11. The company has a 50 day moving average price of $359.42 and a 200-day moving average price of $320.56.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The firm had revenue of $640.70 million for the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the business posted $5.39 EPS. As a group, equities research analysts expect that Affiliated Managers Group will post 36.69 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date was 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 presently 0.14%.

Insiders Place Their Bets

In related news, Director Annette Franqui bought 750 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $304.88 per share, for a total transaction of $228,660.00. Following the completion of the transaction, the director owned 1,962 shares in the company, valued at $598,174.56. The trade was a 61.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction on Monday, June 8th. The shares were 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 represents a 7.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors grew its position in shares of Affiliated Managers Group by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after buying an additional 34 shares during the period. GAMMA Investing LLC raised its stake in shares of Affiliated Managers Group by 2.2% during the second quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock worth $539,000 after buying an additional 34 shares during the last quarter. AlphaCore Capital LLC lifted its holdings in Affiliated Managers Group by 3.4% in the fourth quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after buying an additional 36 shares during the period. Wedmont Private Capital lifted its holdings in Affiliated Managers Group by 5.3% in the second quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock valued at $283,000 after buying an additional 39 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Affiliated Managers Group by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after acquiring an additional 42 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.