Shares of Affiliated Managers Group, Inc. (NYSE:AMG) reached a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $155.04 and last traded at $155.76, with a volume of 10677 shares. The stock had previously closed at $156.04.
Several research firms recently issued reports on AMG. ValuEngine cut Affiliated Managers Group from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Keefe, Bruyette & Woods cut Affiliated Managers Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $250.00 to $206.00 in a research note on Wednesday, April 11th. Deutsche Bank raised their target price on Affiliated Managers Group from $213.00 to $215.00 and gave the stock a “buy” rating in a research note on Friday, April 6th. Jefferies Financial Group reissued a “buy” rating and issued a $226.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, April 11th. Finally, Zacks Investment Research cut Affiliated Managers Group from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $215.00.
The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.42. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 10.68, a P/E/G ratio of 0.73 and a beta of 1.50.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 24th. Shareholders of record on Thursday, May 10th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $1.20 annualized dividend and a yield of 0.77%. Affiliated Managers Group’s payout ratio is 8.22%.
In other Affiliated Managers Group news, Director Dwight D. Churchill sold 1,981 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $166.28, for a total transaction of $329,400.68. Following the sale, the director now directly owns 6,469 shares of the company’s stock, valued at approximately $1,075,665.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.91% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Stephens Inc. AR boosted its position in shares of Affiliated Managers Group by 12.3% in the 4th quarter. Stephens Inc. AR now owns 2,568 shares of the asset manager’s stock worth $527,000 after purchasing an additional 282 shares in the last quarter. Fred Alger Management Inc. boosted its position in shares of Affiliated Managers Group by 3.1% in the 4th quarter. Fred Alger Management Inc. now owns 9,398 shares of the asset manager’s stock worth $1,929,000 after purchasing an additional 286 shares in the last quarter. Norinchukin Bank The raised its holdings in Affiliated Managers Group by 11.9% in the 4th quarter. Norinchukin Bank The now owns 2,787 shares of the asset manager’s stock worth $572,000 after acquiring an additional 296 shares during the last quarter. Hillsdale Investment Management Inc. raised its holdings in Affiliated Managers Group by 15.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 2,420 shares of the asset manager’s stock worth $459,000 after acquiring an additional 320 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in Affiliated Managers Group by 2.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 11,232 shares of the asset manager’s stock worth $2,305,000 after acquiring an additional 321 shares during the last quarter. 94.55% of the stock is currently owned by hedge funds and other institutional investors.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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