Affiliated Managers Group, Inc. (NYSE:AMG) Stock Has Average Price Target of $453.25

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $460.75.

A number of research analysts recently weighed in on the company. Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 29th. TD Cowen increased their target price on Affiliated Managers Group from $523.00 to $583.00 and gave the stock a “buy” rating in a research note on Tuesday, November 10th. Barrington Research raised their price target on Affiliated Managers Group from $425.00 to $455.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Weiss Ratings lowered Affiliated Managers Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday.

Affiliated Managers Group Stock Up 0.4%

AMG traded up $1.60 during midday trading on Thursday, reaching $395.05. The company’s stock had a trading volume of 164,575 shares, compared to its average volume of 355,580. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.47 and a beta of 1.05. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.86. Affiliated Managers Group has a 1 year low of $246.11 and a 1 year high of $408.07. The stock’s 50-day moving average is $374.79 and its 200-day moving average is $335.78.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, November 9th. The asset manager reported $9.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.79 by $0.71. Affiliated Managers Group had a net margin of 34.96% and a return on equity of 24.44%. The firm had revenue of $595.20 million during the quarter, compared to analyst estimates of $655.08 million. During the same period last year, the business earned $6.10 earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, research analysts expect that Affiliated Managers Group will post 37.63 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 19th. Affiliated Managers Group’s dividend payout ratio is 0.14%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Danske Bank A S bought a new position in shares of Affiliated Managers Group during the 2nd quarter valued at $622,000. Bank of America Corp DE bought a new stake in shares of Affiliated Managers Group in the second quarter worth $146,331,000. Van ECK Associates Corp bought a new stake in shares of Affiliated Managers Group in the second quarter worth $6,853,000. Asset Management One Co. Ltd. increased its position in Affiliated Managers Group by 735.5% during the third quarter. Asset Management One Co. Ltd. now owns 4,846 shares of the asset manager’s stock valued at $1,772,000 after acquiring an additional 4,266 shares during the last quarter. Finally, Secure Asset Management LLC purchased a new stake in Affiliated Managers Group during the second quarter valued at $208,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc. (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.