Affiliated Managers Group (NYSE:AMG) Earns Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Affiliated Managers Group (NYSE:AMG – Get Rating) in a report issued on Thursday. The firm issued a buy rating on the asset manager’s stock.

A number of other research analysts have also recently commented on AMG. Barrington Research upped their price target on shares of Affiliated Managers Group from $155.00 to $195.00 and gave the stock an outperform rating in a report on Monday, February 6th. Jefferies Financial Group upgraded shares of Affiliated Managers Group from a hold rating to a buy rating and upped their target price for the stock from $149.00 to $192.00 in a research note on Monday, November 28th. The Goldman Sachs Group started coverage on shares of Affiliated Managers Group in a research report on Monday, November 21st. They set a buy rating and a $182.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $187.00 to $192.00 and gave the company a buy rating in a report on Monday, February 6th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of Buy and a consensus price target of $185.21.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG opened at $133.32 on Thursday. The firm has a market capitalization of $4.78 billion, a PE ratio of 5.07, a price-to-earnings-growth ratio of 0.62 and a beta of 1.35. The business has a 50 day simple moving average of $162.11 and a two-hundred day simple moving average of $146.60. Affiliated Managers Group has a 1 year low of $108.12 and a 1 year high of $180.63.

Affiliated Managers Group (NYSE:AMG – Get Rating) last posted its quarterly earnings data on Monday, February 6th. The asset manager reported $7.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.03 by $0.25. The company had revenue of $539.60 million during the quarter, compared to analysts’ expectations of $599.42 million. Affiliated Managers Group had a return on equity of 21.29% and a net margin of 49.18%. During the same quarter in the previous year, the business earned $6.10 EPS. Equities research analysts expect that Affiliated Managers Group will post 19.19 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were issued a $0.01 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.15%.

Insider Transactions at Affiliated Managers Group

In other Affiliated Managers Group news, Director Reuben Jeffery III acquired 3,650 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were bought at an average cost of $137.21 per share, with a total value of $500,816.50. Following the completion of the acquisition, the director now directly owns 31,726 shares in the company, valued at approximately $4,353,124.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.09% of the company’s stock.

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors have recently added to or reduced their stakes in AMG. Victory Capital Management Inc. lifted its position in shares of Affiliated Managers Group by 4.3% during the fourth quarter. Victory Capital Management Inc. now owns 378,944 shares of the asset manager’s stock valued at $60,036,000 after buying an additional 15,467 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Affiliated Managers Group by 39.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 724 shares of the asset manager’s stock worth $113,000 after acquiring an additional 203 shares in the last quarter. North Star Asset Management Inc. raised its stake in shares of Affiliated Managers Group by 0.6% during the 4th quarter. North Star Asset Management Inc. now owns 95,611 shares of the asset manager’s stock worth $15,148,000 after acquiring an additional 551 shares in the last quarter. Voya Investment Management LLC lifted its position in Affiliated Managers Group by 139.4% during the fourth quarter. Voya Investment Management LLC now owns 22,966 shares of the asset manager’s stock valued at $3,639,000 after acquiring an additional 13,374 shares during the last quarter. Finally, Natixis acquired a new stake in Affiliated Managers Group in the fourth quarter valued at approximately $2,567,000. Institutional investors own 95.31% of the company’s stock.

About Affiliated Managers Group

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Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.