Affiliated Managers Group, Inc. (AMG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned a consensus recommendation of “Hold” from the ten research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $132.48.

A number of equities analysts have commented on the company. Credit Suisse Group decreased their price target on Affiliated Managers Group from $162.00 to $123.00 and set a “neutral” rating on the stock in a research note on Monday, January 14th. Zacks Investment Research cut Affiliated Managers Group from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. Barrington Research reaffirmed a “buy” rating and issued a $135.00 price target on shares of Affiliated Managers Group in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Jefferies Financial Group cut Affiliated Managers Group from a “buy” rating to a “hold” rating and set a $109.87 price target on the stock. in a research note on Tuesday, January 29th. Finally, Deutsche Bank cut Affiliated Managers Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $158.00 to $106.00 in a research note on Thursday, January 10th.

In other news, Director Tracy P. Palandjian sold 1,694 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $110.64, for a total transaction of $187,424.16. Following the transaction, the director now directly owns 4,291 shares of the company’s stock, valued at $474,756.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.91% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Proficio Capital Partners LLC increased its stake in shares of Affiliated Managers Group by 1,295.5% during the fourth quarter. Proficio Capital Partners LLC now owns 307 shares of the asset manager’s stock valued at $30,000 after buying an additional 285 shares during the period. JOYN Advisors Inc. boosted its holdings in Affiliated Managers Group by 649.1% in the fourth quarter. JOYN Advisors Inc. now owns 397 shares of the asset manager’s stock worth $39,000 after acquiring an additional 344 shares in the last quarter. Legacy Bridge LLC bought a new stake in Affiliated Managers Group in the fourth quarter worth $44,000. CSat Investment Advisory L.P. boosted its holdings in Affiliated Managers Group by 173.5% in the fourth quarter. CSat Investment Advisory L.P. now owns 517 shares of the asset manager’s stock worth $50,000 after acquiring an additional 328 shares in the last quarter. Finally, Covington Capital Management bought a new stake in Affiliated Managers Group in the fourth quarter worth $52,000. 95.07% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group stock traded up $0.98 during trading hours on Friday, reaching $107.74. The company had a trading volume of 5,202 shares, compared to its average volume of 522,730. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.71 and a quick ratio of 1.29. The stock has a market capitalization of $5.55 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 0.66 and a beta of 1.49. Affiliated Managers Group has a 12-month low of $88.46 and a 12-month high of $194.90.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, February 4th. The asset manager reported $3.53 EPS for the quarter, topping the Zacks’ consensus estimate of $3.51 by $0.02. The business had revenue of $564.40 million for the quarter, compared to analysts’ expectations of $568.99 million. Affiliated Managers Group had a return on equity of 18.11% and a net margin of 10.24%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.68 EPS. Sell-side analysts expect that Affiliated Managers Group will post 14.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 14th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, February 13th. This is a boost from Affiliated Managers Group’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a dividend yield of 1.19%. Affiliated Managers Group’s payout ratio is 8.83%.

About Affiliated Managers Group

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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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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