Affiliated Managers Group, Inc. (NYSE:AMG) Receives $213.00 Average Target Price from Analysts

Affiliated Managers Group, Inc. (NYSE:AMG) has earned a consensus rating of “Buy” from the seven research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $213.00.

Several research firms have recently weighed in on AMG. Barrington Research boosted their target price on Affiliated Managers Group from $180.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday, July 6th. Citigroup reissued a “buy” rating and set a $246.00 target price (up previously from $213.00) on shares of Affiliated Managers Group in a research report on Wednesday, July 7th. Deutsche Bank Aktiengesellschaft raised Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $167.00 to $202.00 in a research report on Monday, July 12th. boosted their price objective on Affiliated Managers Group from $213.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, July 7th. Finally, boosted their price objective on Affiliated Managers Group from $213.00 to $246.00 and gave the company a “buy” rating in a report on Wednesday, July 7th.

NYSE:AMG traded up $0.84 during trading hours on Monday, reaching $156.41. The stock had a trading volume of 157,609 shares, compared to its average volume of 333,035. Affiliated Managers Group has a 52 week low of $62.95 and a 52 week high of $180.97. The company has a 50 day moving average price of $163.38 and a two-hundred day moving average price of $160.05. The stock has a market capitalization of $6.45 billion, a PE ratio of 15.59, a PEG ratio of 0.63 and a beta of 1.37.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Tuesday, July 27th. The asset manager reported $4.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.85 by $0.18. The business had revenue of $586.30 million for the quarter, compared to the consensus estimate of $590.66 million. Affiliated Managers Group had a return on equity of 20.31% and a net margin of 20.33%. Sell-side analysts anticipate that Affiliated Managers Group will post 17.01 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 20th. Shareholders of record on Friday, August 6th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, August 5th. Affiliated Managers Group’s dividend payout ratio is 0.30%.

In related news, CEO Jay C. Horgen acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 14th. The stock was purchased at an average cost of $158.01 per share, for a total transaction of $316,020.00. Following the purchase, the chief executive officer now directly owns 183,783 shares of the company’s stock, valued at approximately $29,039,551.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight D. Churchill acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 2nd. The shares were bought at an average price of $160.89 per share, with a total value of $160,890.00. Following the completion of the purchase, the director now directly owns 13,635 shares in the company, valued at $2,193,735.15. The disclosure for this purchase can be found here. 0.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in AMG. SkyView Investment Advisors LLC increased its position in Affiliated Managers Group by 257.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 200 shares of the asset manager’s stock valued at $30,000 after buying an additional 144 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Affiliated Managers Group during the 1st quarter valued at about $45,000. FORA Capital LLC acquired a new position in shares of Affiliated Managers Group in the second quarter valued at about $45,000. Captrust Financial Advisors increased its holdings in shares of Affiliated Managers Group by 493.4% in the first quarter. Captrust Financial Advisors now owns 718 shares of the asset manager’s stock valued at $107,000 after purchasing an additional 597 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Affiliated Managers Group in the first quarter valued at about $142,000. 98.38% of the stock is currently owned by institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. It provides assistance on strategic matters, marketing, distribution, product development, and operations. The company was founded by William J. Nutt in December 1993 and is headquartered in West Palm Beach, FL.

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