Affiliated Managers Group, Inc. (NYSE:AMG) Receives $340.50 Average Price Target from Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $340.50.

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Jefferies Financial Group reiterated a “buy” rating and set a $282.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. TD Cowen boosted their price objective on Affiliated Managers Group to $495.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. UBS Group set a $295.00 price objective on Affiliated Managers Group in a research note on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Affiliated Managers Group

Several large investors have recently made changes to their positions in AMG. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Affiliated Managers Group by 428.0% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after buying an additional 107 shares during the period. Root Financial Partners LLC bought a new stake in Affiliated Managers Group during the 3rd quarter valued at $33,000. Meeder Asset Management Inc. acquired a new position in Affiliated Managers Group during the 3rd quarter worth $34,000. Hantz Financial Services Inc. grew its stake in shares of Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after purchasing an additional 93 shares in the last quarter. Finally, Millstone Evans Group LLC increased its holdings in shares of Affiliated Managers Group by 41.9% during the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $318.40 on Friday. The stock has a market capitalization of $8.96 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19. The business’s fifty day moving average price is $283.06 and its 200 day moving average price is $247.64. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $330.00.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $543.39 million. During the same period in the prior year, the company earned $4.82 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Affiliated Managers Group will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Thursday, November 13th were given a $0.01 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

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.