Affiliated Managers Group (NYSE:AMG) Sets New 52-Week High – Should You Buy?

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) reached 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 trading hands. The stock had previously closed at $192.86.

Analyst Upgrades and Downgrades

AMG has been the subject of several recent research reports. StockNews.com downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. TD Cowen lifted their price target 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. Bank of America upped their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Barrington Research lifted their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.50.

Affiliated Managers Group Price Performance

The company’s 50-day moving average is $175.80 and its 200-day moving average is $166.51. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.58 and a beta of 1.20.

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

Affiliated Managers Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th 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 was Thursday, August 8th. Affiliated Managers Group’s payout ratio is currently 0.22%.

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $171.98, for a total value of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at $64,883,926.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,408 shares of company stock worth $3,865,068. Company insiders own 1.90% of the company’s stock.

Institutional Trading of Affiliated Managers Group

Hedge funds have recently made changes to their positions in the company. Ariel Investments LLC grew its holdings in 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 purchasing an additional 115,808 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Affiliated Managers Group by 150.1% during the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after acquiring an additional 59,659 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Affiliated Managers Group by 36.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 177,530 shares of the asset manager’s stock worth $29,731,000 after acquiring an additional 47,239 shares in the last quarter. Algert Global LLC boosted its holdings in Affiliated Managers Group by 74.8% in the second quarter. Algert Global LLC now owns 89,254 shares of the asset manager’s stock valued at $13,944,000 after purchasing an additional 38,206 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Affiliated Managers Group by 59.1% during the 2nd quarter. Renaissance Technologies LLC now owns 90,200 shares of the asset manager’s stock valued at $14,092,000 after purchasing an additional 33,500 shares in the last quarter. Hedge funds and other 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.