Affiliated Managers Group, Inc. (NYSE:AMG) Receives $174.40 Consensus PT from Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $174.40.

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price target on Affiliated Managers Group from $133.00 to $154.00 in a research report on Tuesday. Citigroup dropped their price target on Affiliated Managers Group from $241.00 to $222.00 in a research report on Tuesday, May 3rd. StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Thursday, July 7th. Barrington Research decreased their price objective on Affiliated Managers Group from $190.00 to $160.00 in a report on Monday, May 2nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Affiliated Managers Group from $167.00 to $150.00 and set an “outperform” rating on the stock in a report on Tuesday, June 28th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its position in shares of Affiliated Managers Group by 62.5% during the second quarter. Illinois Municipal Retirement Fund now owns 5,088 shares of the asset manager’s stock worth $593,000 after acquiring an additional 1,957 shares during the last quarter. Ironwood Investment Counsel LLC increased its position in shares of Affiliated Managers Group by 22.0% during the second quarter. Ironwood Investment Counsel LLC now owns 2,915 shares of the asset manager’s stock worth $339,000 after acquiring an additional 525 shares during the last quarter. Column Capital Advisors LLC increased its position in shares of Affiliated Managers Group by 17.6% during the second quarter. Column Capital Advisors LLC now owns 890 shares of the asset manager’s stock worth $104,000 after acquiring an additional 133 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Affiliated Managers Group by 57.7% during the second quarter. Fifth Third Bancorp now owns 257 shares of the asset manager’s stock worth $30,000 after acquiring an additional 94 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Affiliated Managers Group by 22.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 442 shares of the asset manager’s stock worth $52,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE AMG opened at $129.81 on Wednesday. Affiliated Managers Group has a 1-year low of $109.57 and a 1-year high of $191.62. The company has a market capitalization of $5.06 billion, a P/E ratio of 9.77, a PEG ratio of 0.76 and a beta of 1.31. The business has a 50 day moving average price of $123.01 and a 200 day moving average price of $131.50.

Affiliated Managers Group (NYSE:AMG – Get Rating) last released its quarterly earnings data on Monday, August 1st. The asset manager reported $4.03 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.08. Affiliated Managers Group had a return on equity of 21.89% and a net margin of 22.69%. During the same period in the prior year, the company posted $4.03 earnings per share. On average, research analysts expect that Affiliated Managers Group will post 18.52 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Thursday, August 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, August 10th. Affiliated Managers Group’s dividend payout ratio is presently 0.30%.

Affiliated Managers Group Company Profile

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Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.