Affiliated Managers Group (NYSE:AMG) Hits New 52-Week High – Should You Buy?

by · The Markets Daily

Affiliated Managers Group, Inc. (NYSE:AMGGet Free Report)’s share price hit a new 52-week high on Tuesday . The company traded as high as $330.00 and last traded at $322.89, with a volume of 7712 shares trading hands. The stock had previously closed at $326.12.

Analyst Ratings Changes

AMG has been the topic of several research reports. Wall Street Zen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 14th. UBS Group set a $295.00 price target on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Bank of America increased their price target on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, The Goldman Sachs Group boosted their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research report on Tuesday, January 6th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $340.50.

Check Out Our Latest Analysis on Affiliated Managers Group

Affiliated Managers Group Stock Performance

The stock’s 50-day simple moving average is $284.33 and its 200 day simple moving average is $248.20. The company has a market cap of $9.22 billion, a PE ratio of 19.53, a P/E/G ratio of 0.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30.

Affiliated Managers Group (NYSE:AMGGet Free Report) last released its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.88 by $0.22. The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $543.39 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.82 earnings per share. As a group, equities analysts anticipate that Affiliated Managers Group, Inc. will post 22.86 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds have recently made changes to their positions in the business. Oak Thistle LLC grew its position in Affiliated Managers Group by 194.1% in the fourth quarter. Oak Thistle LLC now owns 8,700 shares of the asset manager’s stock valued at $2,508,000 after acquiring an additional 5,742 shares in the last quarter. Seascape Capital Management increased its stake in Affiliated Managers Group by 0.6% during the 4th quarter. Seascape Capital Management now owns 18,492 shares of the asset manager’s stock worth $5,331,000 after buying an additional 115 shares during the period. Blue Trust Inc. grew its stake in shares of Affiliated Managers Group by 4.0% during the fourth quarter. Blue Trust Inc. now owns 4,980 shares of the asset manager’s stock valued at $1,436,000 after acquiring an additional 193 shares in the last quarter. Tema Etfs LLC purchased a new stake in shares of Affiliated Managers Group during the fourth quarter worth about $73,000. Finally, BTC Capital Management Inc. acquired a new position in shares of Affiliated Managers Group in the 4th quarter valued at approximately $433,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

(Get Free Report)

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.

Featured Articles