Affiliated Managers Group (NYSE:AMG) Sets New 1-Year Low on Analyst Downgrade

Affiliated Managers Group, Inc. (NYSE:AMG) hit a new 52-week low during mid-day trading 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 changing hands. The stock had previously closed at $158.08.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Barrington Research upped their price objective on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, The Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $193.00 to $191.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.20.

Hedge Funds Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp boosted its stake 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 purchasing an additional 62 shares during the period. Versant Capital Management Inc raised its holdings in Affiliated Managers Group by 70.8% during the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock valued at $30,000 after buying an additional 75 shares during the last quarter. Private Trust Co. NA boosted its position in Affiliated Managers Group by 131.9% during the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager’s stock valued at $40,000 after buying an additional 124 shares during the period. UMB Bank n.a. grew its holdings in Affiliated Managers Group by 37.1% in the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock worth $47,000 after acquiring an additional 69 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Affiliated Managers Group in the third quarter valued at about $46,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

The stock has a market cap of $4.35 billion, a PE ratio of 9.84, a PEG ratio of 0.57 and a beta of 1.18. The business’s 50-day simple moving average is $170.28 and its 200-day simple moving average is $180.03. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping 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%. On average, research analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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