Affiliated Managers Group (NYSE:AMG) Sets New 12-Month High at $165.39

Affiliated Managers Group, Inc. (NYSE:AMG) reached a new 52-week high during trading on Wednesday . The stock traded as high as $165.39 and last traded at $164.77, with a volume of 15748 shares traded. The stock had previously closed at $163.58.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMG shares. TD Cowen started coverage on shares of Affiliated Managers Group in a research note on Thursday, January 4th. They set an “outperform” rating and a $185.00 price objective for the company. Barrington Research boosted their price objective on shares of Affiliated Managers Group from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.20.

Affiliated Managers Group Stock Performance

The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.60 and a beta of 1.30. The stock’s 50 day simple moving average is $156.41 and its 200-day simple moving average is $143.33.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.03 by $0.83. The business had revenue of $502.70 million for the quarter, compared to analyst estimates of $524.98 million. Affiliated Managers Group had a net margin of 32.71% and a return on equity of 16.29%. Affiliated Managers Group’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.28 EPS. On average, analysts expect that Affiliated Managers Group, Inc. will post 21.42 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 0.23%.

Institutional Trading of Affiliated Managers Group

A number of hedge funds and other institutional investors have recently made changes to their positions in AMG. Lindbrook Capital LLC lifted its holdings in Affiliated Managers Group by 80.0% during the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Affiliated Managers Group by 72.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 174 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 73 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $44,000. Finally, Quarry LP boosted its stake in shares of Affiliated Managers Group by 1,193.3% in the first quarter. Quarry LP now owns 388 shares of the asset manager’s stock valued at $55,000 after purchasing an additional 358 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.