StockNews.com upgraded shares of Affiliated Managers Group (NYSE:AMG – Get Rating) from a hold rating to a buy rating in a report issued on Friday.
A number of other brokerages have also recently weighed in on AMG. The Goldman Sachs Group initiated coverage on shares of Affiliated Managers Group in a research report on Monday, November 21st. They issued a buy rating and a $182.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Affiliated Managers Group from $191.00 to $187.00 in a report on Wednesday, January 11th. Credit Suisse Group upped their target price on shares of Affiliated Managers Group from $140.00 to $163.50 and gave the company an outperform rating in a report on Tuesday, November 8th. Barrington Research upped their target price on shares of Affiliated Managers Group from $145.00 to $155.00 in a report on Monday, November 7th. Finally, Jefferies Financial Group raised shares of Affiliated Managers Group from a hold rating to a buy rating and upped their target price for the company from $149.00 to $192.00 in a report on Monday, November 28th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Affiliated Managers Group presently has a consensus rating of Buy and a consensus price target of $178.79.
Get Affiliated Managers Group alerts:Affiliated Managers Group Price Performance
Shares of AMG opened at $165.88 on Friday. Affiliated Managers Group has a 1-year low of $108.12 and a 1-year high of $172.01. The stock has a market cap of $6.25 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 0.77 and a beta of 1.31. The firm has a fifty day moving average price of $159.65 and a 200 day moving average price of $137.70.
Affiliated Managers Group (NYSE:AMG – Get Rating) last announced its quarterly earnings results on Monday, November 7th. The asset manager reported $4.21 earnings per share for the quarter, beating analysts' consensus estimates of $3.92 by $0.29. Affiliated Managers Group had a net margin of 22.02% and a return on equity of 21.15%. The firm had revenue of $578.60 million during the quarter, compared to analysts' expectations of $553.29 million. As a group, equities analysts expect that Affiliated Managers Group will post 19.68 EPS for the current fiscal year.Affiliated Managers Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, November 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.31%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in AMG. Clarkston Capital Partners LLC increased its stake in shares of Affiliated Managers Group by 21.1% during the second quarter. Clarkston Capital Partners LLC now owns 2,028,182 shares of the asset manager's stock worth $236,486,000 after acquiring an additional 353,109 shares during the period. Great Lakes Advisors LLC acquired a new position in shares of Affiliated Managers Group during the third quarter worth about $13,291,000. Reinhart Partners Inc. acquired a new position in shares of Affiliated Managers Group during the second quarter worth about $13,414,000. LGT Capital Partners LTD. increased its stake in shares of Affiliated Managers Group by 44.7% during the third quarter. LGT Capital Partners LTD. now owns 337,750 shares of the asset manager's stock worth $37,777,000 after acquiring an additional 104,330 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Affiliated Managers Group during the first quarter worth about $13,969,000. 95.31% of the stock is currently owned by institutional investors and hedge funds.
About Affiliated Managers Group
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Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. It provides assistance on strategic matters, marketing, distribution, product development, and operations. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.
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