Affiliated Managers Group, Inc. (NYSE:AMG) Given Consensus Recommendation of “Hold” by Brokerages

Affiliated Managers Group, Inc. (NYSE:AMG) has earned an average rating of “Hold” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $195.40.

A number of research firms have weighed in on AMG. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. 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 stock from $193.00 to $191.00 in a report on Monday, January 6th. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Barrington Research decreased their price target 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.

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors have recently bought and sold shares of AMG. Empirical Asset Management LLC increased its stake in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after acquiring an additional 188,568 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Affiliated Managers Group by 6.7% during the 3rd 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 during the last quarter. Basswood Capital Management L.L.C. raised its holdings in Affiliated Managers Group by 22.7% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 131,981 shares of the asset manager’s stock valued at $23,466,000 after buying an additional 24,379 shares during the period. Victory Capital Management Inc. lifted its position in Affiliated Managers Group by 13.9% in the third quarter. Victory Capital Management Inc. now owns 113,191 shares of the asset manager’s stock worth $20,125,000 after buying an additional 13,784 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Affiliated Managers Group by 7.9% during the second quarter. Millennium Management LLC now owns 104,297 shares of the asset manager’s stock worth $16,294,000 after buying an additional 7,613 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $189.65 on Friday. Affiliated Managers Group has a 1-year low of $147.13 and a 1-year high of $199.52. The company has a market capitalization of $5.73 billion, a PE ratio of 12.37, a P/E/G ratio of 0.68 and a beta of 1.15. The firm’s 50-day moving average price is $185.70 and its 200-day moving average price is $180.63.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $521.87 million. During the same quarter in the previous year, the firm posted $4.08 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Affiliated Managers Group will post 20.9 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is presently 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.