Affiliated Managers Group (NYSE:AMG) Hits New 1-Year High – Here’s What Happened

Affiliated Managers Group, Inc. (NYSE:AMG) hit a new 52-week high on Wednesday. The company traded as high as $396.02 and last traded at $393.8450, with a volume of 29,042 shares. The stock had previously closed at $388.75.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. TD Cowen lifted their target price on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Weiss Ratings raised shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Finally, Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $388.33.

Affiliated Managers Group Price Performance

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $10.17 billion, a PE ratio of 13.62, a PEG ratio of 0.51 and a beta of 1.07. The business has a fifty day moving average price of $367.64 and a 200-day moving average price of $341.91.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. During the same period in the previous year, the firm posted $5.39 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts expect that Affiliated Managers Group, Inc. will post 36.87 EPS for the current fiscal year.

Institutional Trading of Affiliated Managers Group

A number of hedge funds and other institutional investors have recently modified their holdings of AMG. Quadrant Capital Group LLC boosted its stake in Affiliated Managers Group by 1.1% during the third quarter. Quadrant Capital Group LLC now owns 3,262 shares of the asset manager’s stock worth $1,236,000 after acquiring an additional 37 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Affiliated Managers Group by 3.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,609 shares of the asset manager’s stock worth $3,148,000 after purchasing an additional 278 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Affiliated Managers Group by 37.0% in the 3rd quarter. CWA Asset Management Group LLC now owns 7,537 shares of the asset manager’s stock worth $2,756,000 after buying an additional 2,036 shares during the last quarter. Abel Hall LLC purchased a new stake in shares of Affiliated Managers Group in the 3rd quarter worth approximately $212,000. Finally, USA Financial Formulas bought a new position in Affiliated Managers Group during the 3rd quarter valued at approximately $151,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.