Analysts Set Affiliated Managers Group, Inc. (NYSE:AMG) Price Target at $196.50

Affiliated Managers Group, Inc. (NYSE:AMG) has been given an average rating of “Hold” by the five ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $195.40.

Several analysts have issued reports on AMG shares. Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group lowered 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. Finally, Barrington Research dropped their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On Affiliated Managers Group

Hedge funds have recently made changes to their positions in the company. World Investment Advisors LLC purchased a new stake in shares of Affiliated Managers Group in the third quarter worth about $2,592,000. Asset Management One Co. Ltd. lifted its position in shares of Affiliated Managers Group by 94.3% in the third quarter. Asset Management One Co. Ltd. now owns 10,594 shares of the asset manager’s stock worth $1,884,000 after buying an additional 5,142 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Affiliated Managers Group in the second quarter worth about $574,000. XTX Topco Ltd lifted its position in shares of Affiliated Managers Group by 178.9% in the second quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager’s stock worth $823,000 after buying an additional 3,380 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Affiliated Managers Group in the third quarter worth about $543,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $180.63 on Monday. The stock has a 50-day simple moving average of $185.76 and a two-hundred day simple moving average of $177.73. Affiliated Managers Group has a 52-week low of $145.36 and a 52-week high of $199.52. The firm has a market capitalization of $5.46 billion, a PE ratio of 11.78, a P/E/G ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same period in the prior year, the firm posted $4.08 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts forecast that Affiliated Managers Group will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were given a $0.01 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is currently 0.26%.

About Affiliated Managers Group

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.