Affiliated Managers Group (NYSE:AMG) Hits New 12-Month Low Following Analyst Downgrade

Affiliated Managers Group, Inc. (NYSE:AMG - Get Free Report)'s share price hit a new 52-week low on Friday after TD Cowen lowered their price target on the stock from $187.00 to $168.00. TD Cowen currently has a hold rating on the stock. Affiliated Managers Group traded as low as $146.61 and last traded at $150.35, with a volume of 118863 shares traded. The stock had previously closed at $158.08.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Barrington Research lowered their price objective on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a report on Tuesday. Bank of America reduced their target price on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group lowered Affiliated Managers Group from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $193.00 to $191.00 in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of "Moderate Buy" and an average price target of $192.40.

Institutional Trading of Affiliated Managers Group

A number of hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors increased its holdings in shares of Affiliated Managers Group by 91.4% in the third quarter. Captrust Financial Advisors now owns 3,713 shares of the asset manager's stock valued at $660,000 after purchasing an additional 1,773 shares during the last quarter. Quantinno Capital Management LP grew its holdings in Affiliated Managers Group by 108.7% in the 3rd quarter. Quantinno Capital Management LP now owns 12,066 shares of the asset manager's stock valued at $2,145,000 after buying an additional 6,284 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Affiliated Managers Group in the 3rd quarter worth $543,000. EP Wealth Advisors LLC purchased a new position in shares of Affiliated Managers Group during the 3rd quarter worth $260,000. Finally, National Bank of Canada FI raised its holdings in shares of Affiliated Managers Group by 260.4% during the 3rd quarter. National Bank of Canada FI now owns 11,379 shares of the asset manager's stock worth $2,023,000 after acquiring an additional 8,222 shares during the period. Institutional investors and hedge funds own 95.30% of the company's stock.

Affiliated Managers Group Stock Performance

The stock has a market cap of $4.69 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 0.57 and a beta of 1.09. The firm's 50-day moving average price is $167.66 and its two-hundred day moving average price is $179.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.13 and a current ratio of 2.13.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. On average, analysts expect that Affiliated Managers Group, Inc. will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.04 annualized dividend and a yield of 0.02%. Affiliated Managers Group's dividend payout ratio (DPR) is 0.26%.

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.