Affiliated Managers Group (NYSE:AMG) PT Raised to $210.00

Affiliated Managers Group (NYSE:AMG) had its target price hoisted by Barrington Research from $190.00 to $210.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock. Barrington Research also issued estimates for Affiliated Managers Group’s Q3 2024 earnings at $4.75 EPS, Q4 2024 earnings at $6.76 EPS, FY2024 earnings at $21.55 EPS and FY2025 earnings at $24.50 EPS.

Separately, TD Cowen lifted their price objective on shares of Affiliated Managers Group from $198.00 to $201.00 and gave the stock a buy rating in a research note on Monday, July 8th. Two 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.com, Affiliated Managers Group currently has a consensus rating of Moderate Buy and a consensus price target of $199.20.

Affiliated Managers Group Stock Down 3.6 %

AMG stock opened at $178.92 on Monday. Affiliated Managers Group has a twelve month low of $120.22 and a twelve month high of $189.81. The company has a market cap of $5.70 billion, a P/E ratio of 9.86, a PEG ratio of 0.64 and a beta of 1.22. The business has a fifty day moving average of $161.70 and a 200-day moving average of $159.52.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) 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 the consensus estimate of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.45 EPS. As a group, equities research analysts anticipate that Affiliated Managers Group will post 21.83 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 Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend is Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio is 0.22%.

Hedge Funds Weigh In On Affiliated Managers Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allegheny Financial Group LTD raised its stake in shares of Affiliated Managers Group by 19.0% in the 2nd quarter. Allegheny Financial Group LTD now owns 2,630 shares of the asset manager’s stock valued at $411,000 after purchasing an additional 419 shares during the period. Convergence Investment Partners LLC grew its holdings in shares of Affiliated Managers Group by 117.7% during the second quarter. Convergence Investment Partners LLC now owns 8,671 shares of the asset manager’s stock worth $1,355,000 after buying an additional 4,688 shares in the last quarter. Natixis Advisors LLC lifted its stake in Affiliated Managers Group by 3.0% in the 2nd quarter. Natixis Advisors LLC now owns 12,473 shares of the asset manager’s stock valued at $1,949,000 after acquiring an additional 368 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Affiliated Managers Group by 8.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,008 shares of the asset manager’s stock valued at $1,095,000 after acquiring an additional 517 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its position in Affiliated Managers Group by 4.3% during the 2nd quarter. Verdence Capital Advisors LLC now owns 17,904 shares of the asset manager’s stock worth $2,797,000 after acquiring an additional 742 shares during the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

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.