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

Affiliated Managers Group, Inc. (NYSE:AMG) has been given a consensus rating of “Moderate Buy” by the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $362.2857.

Several brokerages have recently commented on AMG. Barrington Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. The Goldman Sachs Group reissued a “buy” rating and set a $405.00 price objective on shares of Affiliated Managers Group in a research report on Monday, May 4th. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a research note on Monday, May 4th. Finally, TD Cowen reiterated a “buy” rating and set a $454.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, May 13th.

Insider Transactions at Affiliated Managers Group

In other news, Director David Christopher Ryan sold 3,402 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $305.06, for a total value of $1,037,814.12. Following the completion of the sale, the director directly owned 1,092 shares in the company, valued at $333,125.52. This represents a 75.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jay C. Horgen sold 17,500 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $338.27, for a total value of $5,919,725.00. Following the completion of the transaction, the chief executive officer directly owned 204,706 shares in the company, valued at $69,245,898.62. This trade represents a 7.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 21,902 shares of company stock worth $7,257,719. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Affiliated Managers Group

Several institutional investors have recently made changes to their positions in AMG. Captrust Financial Advisors boosted its position in Affiliated Managers Group by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 1,003 shares of the asset manager’s stock worth $289,000 after purchasing an additional 34 shares during the period. GAMMA Investing LLC raised its position in shares of Affiliated Managers Group by 2.2% in 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 in the last quarter. AlphaCore Capital LLC boosted its stake in Affiliated Managers Group by 3.4% during the 4th quarter. AlphaCore Capital LLC now owns 1,083 shares of the asset manager’s stock valued at $312,000 after acquiring an additional 36 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Affiliated Managers Group by 4.3% during the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after purchasing an additional 42 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Affiliated Managers Group by 10.3% during the 4th quarter. Allworth Financial LP now owns 482 shares of the asset manager’s stock worth $139,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Up 1.8%

Shares of AMG stock opened at $366.38 on Friday. The business has a 50-day moving average of $329.73 and a 200 day moving average of $309.14. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79. Affiliated Managers Group has a 1-year low of $199.59 and a 1-year high of $369.94. The stock has a market capitalization of $9.68 billion, a PE ratio of 14.82, a P/E/G ratio of 0.58 and a beta of 1.12.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Friday, May 1st. The asset manager reported $8.23 EPS for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. Affiliated Managers Group had a return on equity of 20.17% and a net margin of 35.55%.The business had revenue of $544.90 million for the quarter, compared to analysts’ expectations of $544.01 million. During the same period in the previous year, the firm earned $5.37 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Affiliated Managers Group will post 35.37 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a $0.01 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.16%.

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.