Affiliated Managers Group (NYSE:AMG) Hits New 1-Year High – What’s Next?

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $277.24 and last traded at $278.6760, with a volume of 406960 shares traded. The stock had previously closed at $271.06.

Wall Street Analysts Forecast Growth

AMG has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. UBS Group set a $295.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. Finally, Wall Street Zen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat.com, Affiliated Managers Group has a consensus rating of “Buy” and an average price target of $290.33.

Affiliated Managers Group Stock Up 3.3%

The company has a market cap of $7.88 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.60 and a beta of 1.22. The stock has a 50-day moving average of $251.14 and a two-hundred day moving average of $224.28. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping the consensus estimate of $5.88 by $0.22. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. During the same period last year, the firm posted $4.82 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio is presently 0.24%.

Institutional Investors Weigh In On Affiliated Managers Group

Several institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Affiliated Managers Group by 428.0% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares during the period. Root Financial Partners LLC bought a new stake in Affiliated Managers Group during the 3rd quarter valued at $33,000. Meeder Asset Management Inc. purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at $34,000. Hantz Financial Services Inc. boosted its position in Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after buying an additional 93 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Affiliated Managers Group during the first quarter worth about $36,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

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.