Affiliated Managers Group (NYSE:AMG) Hits New 12-Month Low Following Analyst Downgrade

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price reached a new 52-week low on Friday after Bank of America lowered their price target on the stock from $211.00 to $195.00. Bank of America currently has a neutral rating on the stock. Affiliated Managers Group traded as low as $146.61 and last traded at $150.35, with a volume of 118863 shares. The stock had previously closed at $158.08.

Several other equities research analysts also recently weighed in on AMG. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Barrington Research raised their target price on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, The Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $193.00 to $191.00 in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group has a consensus rating of “Moderate Buy” and an average price target of $197.20.

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund raised its holdings in Affiliated Managers Group by 0.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,147 shares of the asset manager’s stock worth $1,137,000 after purchasing an additional 55 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock worth $26,000 after buying an additional 62 shares during the period. UMB Bank n.a. lifted its position in shares of Affiliated Managers Group by 37.1% during the 4th quarter. UMB Bank n.a. now owns 255 shares of the asset manager’s stock valued at $47,000 after buying an additional 69 shares in the last quarter. Cetera Investment Advisers grew its stake in Affiliated Managers Group by 2.5% in the 4th quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager’s stock valued at $536,000 after acquiring an additional 70 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock worth $30,000 after acquiring an additional 75 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Stock Performance

The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average is $170.28 and its 200 day moving average is $180.06. The company has a market cap of $4.35 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, research analysts predict that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Affiliated Managers Group’s dividend payout ratio is currently 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.