Affiliated Managers Group (NYSE:AMG) Reaches New 12-Month High – Should You Buy?

Affiliated Managers Group, Inc. (NYSE:AMG) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $194.46 and last traded at $194.46, with a volume of 1923 shares traded. The stock had previously closed at $192.86.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMG shares. Bank of America raised their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. TD Cowen raised their target price on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Barrington Research raised their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Affiliated Managers Group from $202.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Affiliated Managers Group presently has a consensus rating of “Moderate Buy” and an average price target of $210.50.

Affiliated Managers Group Price Performance

The stock has a fifty day moving average price of $174.57 and a two-hundred day moving average price of $166.10. The company has a market cap of $6.20 billion, a P/E ratio of 10.70, a PEG ratio of 0.58 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The company had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.45 earnings per share. As a group, analysts forecast that Affiliated Managers Group, Inc. will post 21.98 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

Insider Activity at Affiliated Managers Group

In related news, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Thomas M. Wojcik sold 4,786 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction of $826,590.06. Following the transaction, the chief operating officer now owns 84,392 shares in the company, valued at $14,575,342.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the transaction, the insider now owns 128,457 shares in the company, valued at $22,208,930.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock worth $3,865,068 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in Affiliated Managers Group in the second quarter worth approximately $28,000. UMB Bank n.a. grew its position in Affiliated Managers Group by 481.3% in the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after buying an additional 154 shares during the last quarter. Denali Advisors LLC grew its position in Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after buying an additional 206 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in Affiliated Managers Group in the second quarter worth approximately $47,000. Finally, Goodman Advisory Group LLC acquired a new position in Affiliated Managers Group in the second quarter worth approximately $50,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

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.