Affiliated Managers Group (NYSE:AMG) had its target price decreased by Deutsche Bank from $195.00 to $191.00 in a report issued on Thursday morning. Deutsche Bank currently has a buy rating on the asset manager’s stock.
A number of other brokerages also recently issued reports on AMG. Credit Suisse Group dropped their price target on shares of Affiliated Managers Group from $217.00 to $212.00 and set a neutral rating on the stock in a report on Tuesday, May 1st. Zacks Investment Research raised shares of Affiliated Managers Group from a sell rating to a hold rating in a report on Friday, June 29th. Citigroup dropped their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set a buy rating on the stock in a report on Tuesday, May 1st. Barrington Research reaffirmed a buy rating and set a $220.00 price target on shares of Affiliated Managers Group in a report on Monday, April 30th. Finally, TheStreet downgraded shares of Affiliated Managers Group from a b- rating to a c+ rating in a report on Monday, June 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $207.63.
Shares of NYSE AMG opened at $146.59 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The stock has a market cap of $7.92 billion, a PE ratio of 10.04, a P/E/G ratio of 0.73 and a beta of 1.52. Affiliated Managers Group has a 52-week low of $142.79 and a 52-week high of $216.99.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 30th. The asset manager reported $3.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.59 by $0.02. The firm had revenue of $600.10 million for the quarter, compared to the consensus estimate of $604.68 million. Affiliated Managers Group had a net margin of 29.59% and a return on equity of 19.44%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.33 EPS. equities research analysts forecast that Affiliated Managers Group will post 15.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 23rd. Investors of record on Thursday, August 9th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Wednesday, August 8th. Affiliated Managers Group’s payout ratio is 8.22%.
In related news, Director Dwight D. Churchill sold 1,981 shares of the firm’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $166.28, for a total value of $329,400.68. Following the transaction, the director now owns 6,469 shares of the company’s stock, valued at $1,075,665.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.91% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of AMG. ARP Americas LP purchased a new position in Affiliated Managers Group during the first quarter valued at approximately $417,000. Commerzbank Aktiengesellschaft FI purchased a new position in Affiliated Managers Group during the first quarter valued at approximately $217,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Affiliated Managers Group by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 176,857 shares of the asset manager’s stock valued at $33,529,000 after purchasing an additional 1,028 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Affiliated Managers Group by 89.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 12,054 shares of the asset manager’s stock valued at $2,295,000 after purchasing an additional 5,687 shares in the last quarter. Finally, Mackay Shields LLC purchased a new position in Affiliated Managers Group during the first quarter valued at approximately $5,864,000. 94.48% of the stock is currently owned by institutional investors.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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