Analysts Set Affiliated Managers Group, Inc. (NYSE:AMG) PT at $185.21

Shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Rating) have received a consensus rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have covered the stock in the last year is $185.21.

Several analysts recently commented on the stock. Barrington Research increased their target price on shares of Affiliated Managers Group from $155.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Affiliated Managers Group from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Monday, February 6th. Jefferies Financial Group upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $149.00 to $192.00 in a report on Monday, November 28th. The Goldman Sachs Group started coverage on Affiliated Managers Group in a report on Monday, November 21st. They set a “buy” rating and a $182.00 target price for the company. Finally, StockNews.com assumed coverage on Affiliated Managers Group in a research report on Thursday. They issued a “buy” rating for the company.

Insider Buying and Selling

In related news, Director Reuben Jeffery III purchased 3,650 shares of Affiliated Managers Group stock in a transaction dated Thursday, March 16th. The stock was acquired at an average cost of $137.21 per share, with a total value of $500,816.50. Following the completion of the transaction, the director now directly owns 31,726 shares of the company’s stock, valued at $4,353,124.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.09% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new position in Affiliated Managers Group during the third quarter valued at approximately $58,000. Hsbc Holdings PLC raised its holdings in shares of Affiliated Managers Group by 158.0% during the 3rd quarter. Hsbc Holdings PLC now owns 22,364 shares of the asset manager’s stock valued at $2,541,000 after purchasing an additional 13,697 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at $361,000. Virtu Financial LLC bought a new stake in Affiliated Managers Group in the third quarter worth $396,000. Finally, Russell Investments Group Ltd. increased its position in Affiliated Managers Group by 8.4% during the third quarter. Russell Investments Group Ltd. now owns 21,184 shares of the asset manager’s stock worth $2,368,000 after buying an additional 1,646 shares during the last quarter. 95.31% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

Shares of AMG stock opened at $133.32 on Thursday. Affiliated Managers Group has a 1 year low of $108.12 and a 1 year high of $180.63. The business’s fifty day moving average is $162.11 and its 200-day moving average is $146.47. The stock has a market cap of $4.78 billion, a PE ratio of 5.07, a price-to-earnings-growth ratio of 0.62 and a beta of 1.35.

Affiliated Managers Group (NYSE:AMG – Get Rating) last issued its quarterly earnings results on Monday, February 6th. The asset manager reported $7.28 EPS for the quarter, topping the consensus estimate of $7.03 by $0.25. Affiliated Managers Group had a net margin of 49.18% and a return on equity of 21.29%. The firm had revenue of $539.60 million for the quarter, compared to analysts’ expectations of $599.42 million. During the same period in the previous year, the business earned $6.10 earnings per share. Equities research analysts predict that Affiliated Managers Group will post 19.19 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 16th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Affiliated Managers Group’s dividend payout ratio is 0.15%.

About Affiliated Managers Group

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Affiliated Managers Group, Inc engages in the provision of asset management with equity investment. The company was founded by in December 1993 and is headquartered in West Palm Beach, FL.