Affiliated Managers Group (NYSE:AMG) Hits New 1-Year High – Still a Buy?

Affiliated Managers Group, Inc. (NYSE:AMG)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $197.60 and last traded at $197.60, with a volume of 189 shares trading hands. The stock had previously closed at $195.55.

Analyst Ratings Changes

Several research firms recently weighed in on AMG. Deutsche Bank Aktiengesellschaft upped their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Barrington Research restated an “outperform” rating and issued a $210.00 target price on shares of Affiliated Managers Group in a research note on Wednesday. Bank of America boosted their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen boosted their target price on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Affiliated Managers Group has a consensus rating of “Moderate Buy” and an average target price of $210.50.

Affiliated Managers Group Stock Performance

The company has a market cap of $6.25 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.58 and a beta of 1.20. The firm has a 50 day moving average price of $178.97 and a 200-day moving average price of $167.81.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.60 by $0.07. The company had revenue of $500.30 million during the quarter, compared to the consensus estimate of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.45 EPS. On average, sell-side analysts forecast that Affiliated Managers Group, Inc. will post 21.98 EPS for the current fiscal year.

Insider Transactions at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the sale, the chief operating officer now owns 84,392 shares in the company, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jay C. Horgen sold 9,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the completion of the sale, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total value of $826,590.06. Following the sale, the chief operating officer now owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Affiliated Managers Group

Several hedge funds have recently added to or reduced their stakes in the business. Ariel Investments LLC raised its holdings in Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock valued at $225,411,000 after acquiring an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Affiliated Managers Group by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock valued at $129,065,000 after acquiring an additional 30,059 shares in the last quarter. LSV Asset Management raised its holdings in Affiliated Managers Group by 0.8% in the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after acquiring an additional 2,000 shares in the last quarter. Raymond James & Associates raised its holdings in Affiliated Managers Group by 9.6% in the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock valued at $36,659,000 after acquiring an additional 20,514 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Affiliated Managers Group by 6.7% in 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 acquiring an additional 11,565 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

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.