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

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price reached a new 52-week high on Monday . The stock traded as high as $311.59 and last traded at $310.54, with a volume of 123983 shares trading hands. The stock had previously closed at $308.03.

Wall Street Analysts Forecast Growth

AMG has been the topic of several research analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 price target on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Wall Street Zen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Finally, Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Monday, December 15th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and an average target price of $338.83.

Affiliated Managers Group Price Performance

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $274.46 and its 200-day moving average is $241.72. The firm has a market capitalization of $8.77 billion, a price-to-earnings ratio of 18.57, a P/E/G ratio of 0.57 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. During the same quarter last year, the company posted $4.82 EPS. Affiliated Managers Group’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

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

Institutional Trading of Affiliated Managers Group

A number of institutional investors and hedge funds have recently made changes to their positions in AMG. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Affiliated Managers Group by 428.0% during the 2nd 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 position in shares of Affiliated Managers Group during the third quarter worth $33,000. Meeder Asset Management Inc. acquired a new position in Affiliated Managers Group during the 3rd quarter worth about $34,000. Hantz Financial Services Inc. boosted its holdings in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 93 shares during the last quarter. Finally, Millstone Evans Group LLC boosted its stake in shares of Affiliated Managers Group by 41.9% in the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

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.