Affiliated Managers Group (NYSE:AMG) Hits New 12-Month High – Time to Buy?

Affiliated Managers Group, Inc. (NYSE:AMG)’s share price hit a new 52-week high on Monday . The stock traded as high as $283.38 and last traded at $283.5250, with a volume of 72434 shares trading hands. The stock had previously closed at $279.09.

Analysts Set New Price Targets

Several equities research analysts have commented on AMG shares. Barrington Research boosted their price target on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Monday, December 15th. Bank of America lifted their price target on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, TD Cowen upped their price target on Affiliated Managers Group to $485.00 and gave the company a “buy” rating in a report on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $328.67.

Affiliated Managers Group Trading Up 2.3%

The company has a 50 day simple moving average of $257.18 and a two-hundred day simple moving average of $229.86. The company has a market cap of $8.03 billion, a PE ratio of 17.00, a PEG ratio of 0.62 and a beta of 1.22. 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 issued its earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. During the same quarter in the previous year, the company posted $4.82 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s payout ratio is currently 0.24%.

Institutional Trading of Affiliated Managers Group

Several hedge funds have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Affiliated Managers Group by 428.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after buying an additional 107 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Affiliated Managers Group in the third quarter worth $33,000. Meeder Asset Management Inc. bought a new position in Affiliated Managers Group during the third quarter worth $34,000. Hantz Financial Services Inc. raised its stake 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 purchasing an additional 93 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Affiliated Managers Group in the 1st quarter valued at $36,000. Institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

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.