Affiliated Managers Group, Inc. (NYSE:AMG) Receives Average Recommendation of “Hold” from Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG) has been assigned an average recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $195.40.

AMG has been the subject of a number of recent research reports. TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Barrington Research decreased their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $193.00 to $191.00 in a report on Monday, January 6th.

Institutional Trading of Affiliated Managers Group

A number of institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd purchased a new stake in Affiliated Managers Group during the second quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new stake in shares of Affiliated Managers Group during the third quarter valued at approximately $30,000. UMB Bank n.a. lifted its position in shares of Affiliated Managers Group by 481.3% in the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 154 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Affiliated Managers Group in the 3rd quarter worth approximately $46,000. Finally, Daiwa Securities Group Inc. purchased a new position in Affiliated Managers Group during the 2nd quarter worth approximately $47,000. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Price Performance

NYSE AMG opened at $176.87 on Monday. The company has a fifty day moving average of $185.50 and a two-hundred day moving average of $177.75. The company has a market capitalization of $5.35 billion, a PE ratio of 11.54, a P/E/G ratio of 0.69 and a beta of 1.15. Affiliated Managers Group has a 1 year low of $145.36 and a 1 year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $4.08 EPS. On average, research analysts expect that Affiliated Managers Group will post 20.91 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.