Barrington Research Raises Affiliated Managers Group (NYSE:AMG) Price Target to $210.00

Affiliated Managers Group (NYSE:AMG) had its price objective hoisted by Barrington Research from $190.00 to $210.00 in a research report sent to investors 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 boosted their price target on shares of Affiliated Managers Group from $198.00 to $201.00 and gave the company a buy rating in a research report on Monday, July 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $199.20.

Affiliated Managers Group Trading Down 3.6 %

Shares of NYSE AMG opened at $178.92 on Monday. The stock has a market cap of $5.70 billion, a PE ratio of 9.86, a P/E/G ratio of 0.64 and a beta of 1.22. Affiliated Managers Group has a 12-month low of $120.22 and a 12-month high of $189.81. The company has a 50-day moving average of $161.70 and a 200 day moving average of $159.52.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly 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. 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 analyst estimates of $518.03 million. During the same period in the prior year, the business earned $4.45 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that Affiliated Managers Group will post 21.83 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend is Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio is presently 0.22%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC lifted its holdings in Affiliated Managers Group by 98.8% in the fourth 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 last quarter. Lazard Asset Management LLC increased its holdings in Affiliated Managers Group by 87.1% during the 1st quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after purchasing an additional 8,628 shares during the period. Bridgewater Associates LP raised its position in Affiliated Managers Group by 24.9% in the 4th quarter. Bridgewater Associates LP now owns 127,360 shares of the asset manager’s stock valued at $19,285,000 after purchasing an additional 25,365 shares in the last quarter. Charles Carroll Financial Partners LLC grew its position in shares of Affiliated Managers Group by 62.3% during the fourth quarter. Charles Carroll Financial Partners LLC now owns 13,150 shares of the asset manager’s stock worth $1,991,000 after buying an additional 5,050 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Affiliated Managers Group in the first quarter valued at approximately $4,094,000. 95.30% of the stock is currently 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.