Affiliated Managers Group, Inc. (NYSE:AMG) Receives Consensus Recommendation of “Hold” from Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG) has been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $195.40.

Several research firms have recently commented on AMG. Deutsche Bank Aktiengesellschaft upped their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Barrington Research decreased their target price on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently modified their holdings of AMG. UMB Bank n.a. grew its holdings in shares of Affiliated Managers Group by 37.1% during 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 in the last quarter. Covestor Ltd lifted its position in Affiliated Managers Group by 21.4% during the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock valued at $84,000 after purchasing an additional 83 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock worth $838,000 after buying an additional 90 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Affiliated Managers Group by 11.8% in the 4th quarter. GAMMA Investing LLC now owns 888 shares of the asset manager’s stock worth $164,000 after buying an additional 94 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Affiliated Managers Group by 1.2% during the 4th quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the asset manager’s stock valued at $1,553,000 after buying an additional 100 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

Affiliated Managers Group Stock Up 1.1 %

Shares of AMG opened at $189.65 on Friday. The stock’s fifty day simple moving average is $185.70 and its 200-day simple moving average is $180.63. The firm has a market capitalization of $5.73 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.68 and a beta of 1.15. Affiliated Managers Group has a 12-month low of $147.13 and a 12-month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $4.08 earnings per share. Analysts anticipate that Affiliated Managers Group will post 20.9 EPS for the current year.

Affiliated Managers Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. 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.