Affiliated Managers Group’s (AMG) Buy Rating Reiterated at TD Cowen

TD Cowen reiterated their buy rating on shares of Affiliated Managers Group (NYSE:AMG) in a report published on Tuesday, MarketBeat.com reports. TD Cowen currently has a $512.00 price target on the asset manager’s stock.

AMG has been the subject of several other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Tuesday, September 22nd. 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. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research note on Friday, July 31st. Finally, Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $386.50.

Affiliated Managers Group Price Performance

NYSE AMG opened at $371.87 on Tuesday. The stock has a 50-day simple moving average of $364.30 and a 200 day simple moving average of $332.21. Affiliated Managers Group has a twelve month low of $230.10 and a twelve month high of $392.92. The stock has a market capitalization of $9.62 billion, a PE ratio of 12.88, a P/E/G ratio of 0.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. The firm had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company’s revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted $5.39 EPS. Research analysts anticipate that Affiliated Managers Group will post 36.69 EPS for the current year.

Affiliated Managers Group Dividend Announcement

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

Institutional Trading of Affiliated Managers Group

Several institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. acquired a new position in shares of Affiliated Managers Group in the second quarter valued at $225,000. Tidal Investments LLC lifted its position in Affiliated Managers Group by 129.8% in the second quarter. Tidal Investments LLC now owns 6,355 shares of the asset manager’s stock worth $2,151,000 after purchasing an additional 3,589 shares during the period. Engineers Gate Manager LP boosted its stake in Affiliated Managers Group by 161.4% during the second quarter. Engineers Gate Manager LP now owns 51,861 shares of the asset manager’s stock worth $17,550,000 after buying an additional 32,023 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Affiliated Managers Group during the second quarter worth $61,000. Finally, Squarepoint Ops LLC increased its holdings in Affiliated Managers Group by 131.7% in the 2nd quarter. Squarepoint Ops LLC now owns 17,642 shares of the asset manager’s stock valued at $5,970,000 after buying an additional 10,029 shares during the period. Institutional investors and hedge funds 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.