Affiliated Managers Group (NYSE:AMG) Reaches New 52-Week High – Here’s Why

Affiliated Managers Group, Inc. (NYSE:AMG) shares hit a new 52-week high on Monday . The company traded as high as $384.11 and last traded at $381.16, with a volume of 197899 shares. The stock had previously closed at $366.73.

Analyst Ratings Changes

AMG has been the subject of a number of analyst reports. Wall Street Zen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. TD Cowen restated a “buy” rating and set a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price objective on shares of Affiliated Managers Group in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $370.86.

Affiliated Managers Group Price Performance

The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.79. The stock’s 50 day moving average price is $345.89 and its two-hundred day moving average price is $315.00. The firm has a market capitalization of $10.07 billion, a price-to-earnings ratio of 13.20, a PEG ratio of 0.56 and a beta of 1.11.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Wednesday, July 29th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company had revenue of $640.70 million for the quarter, compared to the consensus estimate of $590.94 million. During the same period last year, the business posted $5.39 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that Affiliated Managers Group, Inc. will post 35.64 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is 0.14%.

Insider Buying and Selling at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 17,500 shares of Affiliated Managers Group stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total transaction of $5,919,725.00. Following the sale, the chief executive officer directly owned 204,706 shares of the company’s stock, valued at $69,245,898.62. This trade represents a 7.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Christopher Ryan sold 3,402 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total value of $1,037,814.12. Following the sale, the director directly owned 1,092 shares in the company, valued at $333,125.52. The trade was a 75.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,902 shares of company stock valued at $7,257,719 over the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Affiliated Managers Group

A number of large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Affiliated Managers Group by 1.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock worth $19,047,000 after purchasing an additional 1,428 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Affiliated Managers Group by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after acquiring an additional 6,262 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Affiliated Managers Group during the first quarter valued at $1,947,000. American Century Companies Inc. lifted its stake in shares of Affiliated Managers Group by 1.2% during the second quarter. American Century Companies Inc. now owns 8,552 shares of the asset manager’s stock valued at $1,683,000 after acquiring an additional 104 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Affiliated Managers Group by 89.9% in the second quarter. EverSource Wealth Advisors LLC now owns 281 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 133 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.