Affiliated Managers Group (NYSE:AMG – Free Report) had its price objective raised by Deutsche Bank Aktiengesellschaft from $204.00 to $208.00 in a research note published on Monday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the asset manager’s stock.
Several other equities research analysts have also issued reports on the stock. Barrington Research reduced their price objective on shares of 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. Bank of America upped their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $196.50.
View Our Latest Stock Analysis on Affiliated Managers Group
Affiliated Managers Group Price Performance
Affiliated Managers Group (NYSE:AMG – Get Free Report) last released its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.08 EPS. As a group, research analysts expect that Affiliated Managers Group will post 21.01 EPS for the current year.
Affiliated Managers Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 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 presently 0.26%.
Insider Activity at Affiliated Managers Group
In related news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.
Institutional Trading of Affiliated Managers Group
Several hedge funds and other institutional investors have recently bought and sold shares of AMG. Ariel Investments LLC lifted its stake in shares of Affiliated Managers Group by 8.7% in the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after buying an additional 115,808 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Affiliated Managers Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after acquiring an additional 30,059 shares during the period. LSV Asset Management grew its holdings in shares of Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after purchasing an additional 2,000 shares in the last quarter. Raymond James & Associates increased its position in shares of Affiliated Managers Group by 9.6% during the second quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after purchasing an additional 20,514 shares during the period. Finally, New York State Common Retirement Fund raised its stake in shares of Affiliated Managers Group by 6.7% in the third quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock valued at $32,919,000 after purchasing an additional 11,565 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.
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.
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