Affiliated Managers Group (NYSE:AMG) Sets New 1-Year High – Here’s What Happened

Affiliated Managers Group, Inc. (NYSE:AMG) shares hit a new 52-week high on Thursday. The stock traded as high as $400.13 and last traded at $397.2840, with a volume of 13,070 shares traded. The stock had previously closed at $393.24.

Wall Street Analyst Weigh In

AMG has been the subject of a number of research analyst reports. TD Cowen increased their price target on Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Barrington Research set a $425.00 price objective on Affiliated Managers Group in a report on Friday, July 31st. Weiss Ratings upgraded shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $388.33.

Affiliated Managers Group Stock Performance

The firm has a market capitalization of $10.21 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.49 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $370.41 and a 200 day moving average price of $331.96.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The business had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. During the same quarter in the prior year, the company earned $5.39 earnings per share. The company’s revenue was up .0% on a year-over-year basis. Research analysts expect that Affiliated Managers Group, Inc. will post 36.87 earnings per share for the current year.

Institutional Trading of Affiliated Managers Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vise Technologies Inc. acquired a new position in Affiliated Managers Group during the third quarter worth approximately $2,099,000. Investment Partners LTD. increased its stake in Affiliated Managers Group by 97.0% in the third quarter. Investment Partners LTD. now owns 2,626 shares of the asset manager’s stock valued at $960,000 after purchasing an additional 1,293 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Affiliated Managers Group by 11.7% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,200 shares of the asset manager’s stock valued at $1,536,000 after buying an additional 440 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Affiliated Managers Group by 735.5% during the third quarter. Asset Management One Co. Ltd. now owns 4,846 shares of the asset manager’s stock worth $1,772,000 after buying an additional 4,266 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in Affiliated Managers Group in the 3rd quarter valued at about $821,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.