Affiliated Managers Group (NYSE:AMG) Sets New 1-Year High at $175.77

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $175.77 and last traded at $175.53, with a volume of 87825 shares. The stock had previously closed at $169.27.

Analyst Upgrades and Downgrades

AMG has been the topic of several recent research reports. TD Cowen boosted their target price on Affiliated Managers Group from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Barrington Research restated an “outperform” rating and set a $190.00 target price on shares of Affiliated Managers Group in a report on Thursday, July 11th.

Affiliated Managers Group Stock Up 1.9 %

The business has a 50-day moving average price of $159.76 and a two-hundred day moving average price of $158.50. The firm has a market cap of $5.64 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.61 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.21 by $0.16. The company had revenue of $499.90 million for the quarter, compared to analysts’ expectations of $524.53 million. Affiliated Managers Group had a return on equity of 16.66% and a net margin of 33.74%. During the same period last year, the firm earned $4.18 earnings per share. On average, equities research analysts predict that Affiliated Managers Group, Inc. will post 21.59 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Thursday, May 16th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, May 15th. Affiliated Managers Group’s dividend payout ratio is currently 0.22%.

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors have recently added to or reduced their stakes in AMG. Corient Private Wealth LLC lifted its position in shares of Affiliated Managers Group by 98.8% during the 4th quarter. Corient Private Wealth LLC now owns 9,551 shares of the asset manager’s stock valued at $1,446,000 after acquiring an additional 4,747 shares during the period. Bridgewater Associates LP lifted its position in shares of Affiliated Managers Group by 24.9% during the 4th quarter. Bridgewater Associates LP now owns 127,360 shares of the asset manager’s stock valued at $19,285,000 after acquiring an additional 25,365 shares during the period. Charles Carroll Financial Partners LLC lifted its position in shares of Affiliated Managers Group by 62.3% during the 4th quarter. Charles Carroll Financial Partners LLC now owns 13,150 shares of the asset manager’s stock valued at $1,991,000 after acquiring an additional 5,050 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Affiliated Managers Group during the 1st quarter valued at approximately $4,094,000. Finally, Seven Eight Capital LP acquired a new stake in shares of Affiliated Managers Group during the 4th quarter valued at approximately $1,037,000. Hedge funds and other institutional investors 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.