Affiliated Managers Group (AMG) Reaches New 12-Month Low at $106.86

Affiliated Managers Group, Inc. (NYSE:AMG) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $106.86 and last traded at $107.12, with a volume of 18576 shares traded. The stock had previously closed at $110.10.

AMG has been the subject of a number of analyst reports. Deutsche Bank reduced their price target on Affiliated Managers Group from $166.00 to $164.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Citigroup reduced their price target on Affiliated Managers Group from $195.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Barrington Research reduced their price target on Affiliated Managers Group from $200.00 to $150.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. Keefe, Bruyette & Woods upgraded Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 price target for the company in a research report on Monday, July 30th. Finally, Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Friday, September 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Affiliated Managers Group has an average rating of “Hold” and an average target price of $189.75.

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.49 and a quick ratio of 0.42. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 7.49, a price-to-earnings-growth ratio of 0.58 and a beta of 1.53.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, October 29th. The asset manager reported $3.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.42 by $0.03. The business had revenue of $601.30 million during the quarter, compared to analyst estimates of $604.82 million. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.41 earnings per share. Research analysts forecast that Affiliated Managers Group, Inc. will post 14.78 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Thursday, November 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 7th. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. Affiliated Managers Group’s dividend payout ratio (DPR) is 8.22%.

In related news, EVP Hugh Cutler bought 1,564 shares of Affiliated Managers Group stock in a transaction dated Wednesday, October 31st. The stock was acquired at an average cost of $115.48 per share, with a total value of $180,610.72. Following the completion of the acquisition, the executive vice president now directly owns 7,087 shares in the company, valued at approximately $818,406.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight D. Churchill sold 2,034 shares of the company’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $110.53, for a total value of $224,818.02. Following the sale, the director now directly owns 6,522 shares of the company’s stock, valued at $720,876.66. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in AMG. Cornerstone Wealth Management LLC lifted its holdings in shares of Affiliated Managers Group by 24.5% during the third quarter. Cornerstone Wealth Management LLC now owns 28,925 shares of the asset manager’s stock valued at $149,000 after purchasing an additional 5,698 shares during the last quarter. Zions Bancorporation purchased a new stake in shares of Affiliated Managers Group during the third quarter valued at $170,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Affiliated Managers Group during the third quarter valued at $202,000. Candriam Luxembourg S.C.A. purchased a new stake in shares of Affiliated Managers Group during the third quarter valued at $204,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Affiliated Managers Group during the third quarter valued at $223,000. 91.80% of the stock is owned by institutional investors and hedge funds.

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About Affiliated Managers Group (NYSE:AMG)

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.

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