Affiliated Managers Group (NYSE:AMG) Price Target Raised to $201.00

Affiliated Managers Group (NYSE:AMG) had its target price increased by TD Cowen from $198.00 to $201.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Separately, Barrington Research reissued an outperform rating and set a $190.00 target price on shares of Affiliated Managers Group in a report on Tuesday, May 7th.

Affiliated Managers Group Trading Up 3.1 %

NYSE:AMG opened at $159.54 on Monday. The stock has a market capitalization of $5.08 billion, a PE ratio of 8.85, a price-to-earnings-growth ratio of 0.50 and a beta of 1.22. The firm’s 50 day moving average is $157.21 and its 200 day moving average is $157.07. Affiliated Managers Group has a 12 month low of $120.22 and a 12 month high of $169.65.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.21 by $0.16. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The company had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. During the same quarter in the previous year, the firm posted $4.18 EPS. Research analysts predict that Affiliated Managers Group will post 21.72 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, May 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.22%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC grew its position in shares of Affiliated Managers Group by 80.0% during the 4th quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Denali Advisors LLC grew its position in Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after acquiring an additional 206 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Affiliated Managers Group during the fourth quarter valued at about $62,000. Quadrant Capital Group LLC boosted its position in Affiliated Managers Group by 45.6% during the fourth quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after buying an additional 185 shares during the period. Finally, Blue Trust Inc. boosted its position in Affiliated Managers Group by 17.1% during the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after buying an additional 90 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.