Affiliated Managers Group (NYSE:AMG) Hits New 52-Week Low Following Analyst Downgrade

Affiliated Managers Group, Inc. (NYSE:AMG)’s share price reached a new 52-week low on Friday after Bank of America lowered their price target on the stock from $211.00 to $195.00. Bank of America currently has a neutral rating on the stock. Affiliated Managers Group traded as low as $146.61 and last traded at $150.35, with a volume of 118863 shares trading hands. The stock had previously closed at $158.08.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $193.00 to $191.00 in a research report on Monday, January 6th. Barrington Research lifted their price objective on Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $197.20.

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its position in shares of Affiliated Managers Group by 79.5% during the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock valued at $26,000 after buying an additional 62 shares during the last quarter. Versant Capital Management Inc lifted its position in Affiliated Managers Group by 70.8% during the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 75 shares during the last quarter. Private Trust Co. NA boosted its stake in Affiliated Managers Group by 131.9% in the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 124 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Affiliated Managers Group in the third quarter valued at approximately $46,000. Finally, UMB Bank n.a. grew its holdings in Affiliated Managers Group by 37.1% in the fourth quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock worth $47,000 after purchasing an additional 69 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Performance

The business has a 50-day moving average price of $170.28 and a 200-day moving average price of $180.06. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 0.57 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 22.86 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were issued a $0.01 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

Affiliated Managers Group Company Profile

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.