Affiliated Managers Group (NYSE:AMG) Stock Bumped Down to Hold by Zacks Research

Zacks Research lowered shares of Affiliated Managers Group (NYSE:AMG) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks reports.

Several other equities research analysts have also issued reports on the stock. TD Cowen reissued a “buy” rating and issued a $512.00 target price on shares of Affiliated Managers Group in a report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Tuesday, September 22nd. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $379.14.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $365.42 on Tuesday. The stock has a 50-day simple moving average of $363.80 and a two-hundred day simple moving average of $331.51. Affiliated Managers Group has a 52-week low of $230.10 and a 52-week high of $392.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $9.45 billion, a PE ratio of 12.66, a P/E/G ratio of 0.50 and a beta of 1.10.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. During the same quarter in the prior year, the business posted $5.39 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. Analysts forecast that Affiliated Managers Group will post 36.69 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Monday, August 10th. Affiliated Managers Group’s payout ratio is presently 0.14%.

Institutional Trading of Affiliated Managers Group

Several institutional investors have recently made changes to their positions in AMG. GAMMA Investing LLC raised its stake in Affiliated Managers Group by 2.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock valued at $539,000 after purchasing an additional 34 shares during the period. Wedmont Private Capital boosted its stake in Affiliated Managers Group by 5.3% in the 2nd quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock worth $283,000 after purchasing an additional 39 shares during the period. Parallel Advisors LLC grew its holdings in Affiliated Managers Group by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock valued at $281,000 after buying an additional 42 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after buying an additional 56 shares in the last quarter. Finally, WealthCollab LLC raised its position in shares of Affiliated Managers Group by 40.5% during the first quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock valued at $63,000 after buying an additional 66 shares during the last quarter. Hedge funds and other 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 company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.