Brokerages Set Affiliated Managers Group, Inc. (NYSE:AMG) Price Target at $362.29

Affiliated Managers Group, Inc. (NYSE:AMG) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $362.2857.

AMG has been the topic of a number of analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Barrington Research reaffirmed an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th. Wall Street Zen lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $405.00 price objective on shares of Affiliated Managers Group in a research note on Monday, May 4th.

Affiliated Managers Group Trading Up 0.2%

Shares of NYSE AMG opened at $353.52 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.79 and a current ratio of 1.79. Affiliated Managers Group has a 52-week low of $180.88 and a 52-week high of $363.89. The firm has a 50 day moving average price of $310.55 and a two-hundred day moving average price of $300.24. The stock has a market cap of $9.34 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.60 and a beta of 1.13.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.10 by $0.13. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm had revenue of $544.90 million during the quarter, compared to analysts’ expectations of $544.01 million. During the same period in the prior year, the company posted $5.37 EPS. The company’s revenue was up 9.7% on a year-over-year basis. As a group, equities analysts forecast that Affiliated Managers Group will post 34.71 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is currently 0.16%.

Insider Buying and Selling

In other news, Director Rodriguez Felix V. Matos sold 1,000 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $300.18, for a total value of $300,180.00. Following the sale, the director directly owned 4,369 shares of the company’s stock, valued at approximately $1,311,486.42. This represents a 18.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Christopher Ryan sold 3,402 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the completion of the sale, the director directly owned 1,092 shares in the company, valued at approximately $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 21,902 shares of company stock worth $7,257,719. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Boston Partners boosted its stake in Affiliated Managers Group by 2.1% during the third quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock worth $275,957,000 after acquiring an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Affiliated Managers Group by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock worth $198,746,000 after acquiring an additional 18,865 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Affiliated Managers Group by 20.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock worth $197,641,000 after acquiring an additional 115,313 shares in the last quarter. Geode Capital Management LLC boosted its stake in Affiliated Managers Group by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock worth $158,916,000 after acquiring an additional 41,322 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Affiliated Managers Group by 8.5% during the fourth quarter. Allianz Asset Management GmbH now owns 426,649 shares of the asset manager’s stock worth $122,994,000 after acquiring an additional 33,488 shares in the last quarter. 95.30% of the stock is owned by institutional investors.

About Affiliated Managers Group

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.