Affiliated Managers Group (NYSE:AMG) Price Target Raised to $208.00

Affiliated Managers Group (NYSE:AMG) had its price target boosted by Deutsche Bank Aktiengesellschaft from $204.00 to $208.00 in a report issued on Monday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the asset manager’s stock.

Several other analysts have also recently commented on AMG. Bank of America lifted their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Finally, Barrington Research lowered their target price on shares of 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Trading Up 1.5 %

AMG stock opened at $186.83 on Monday. Affiliated Managers Group has a 12-month low of $131.34 and a 12-month high of $199.52. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 0.67 and a beta of 1.18. The firm has a 50 day moving average of $182.02 and a 200-day moving average of $169.77.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. During the same quarter in the prior year, the firm earned $4.08 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts forecast that Affiliated Managers Group will post 21.01 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

Insider Activity

In other news, COO Thomas M. Wojcik sold 4,786 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at $14,575,342.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Thomas M. Wojcik sold 4,786 shares of Affiliated Managers Group stock in a transaction 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 approximately $14,575,342.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jay C. Horgen sold 9,000 shares of Affiliated Managers Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the transaction, the chief executive officer now owns 377,276 shares in the company, valued at $64,883,926.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,408 shares of company stock valued at $3,865,068 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ariel Investments LLC lifted its holdings in shares of Affiliated Managers Group by 8.7% during 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 lifted 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 worth $129,065,000 after buying an additional 30,059 shares in the last quarter. LSV Asset Management lifted 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 worth $37,574,000 after buying an additional 2,000 shares in the last quarter. Raymond James & Associates lifted 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 worth $36,659,000 after buying an additional 20,514 shares in the last quarter. Finally, New York State Common Retirement Fund lifted 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 worth $32,919,000 after buying an additional 11,565 shares in the last quarter. 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.