Affiliated Managers Group Inc. (NYSE: AMG) Not A Good Play Anymore?

The Vanguard Group, Inc. has recently announced that it has increased stake in Affiliated Managers Group Inc. (NYSE:AMG) by 3.24%. After grabbing 3.86 million shares, the institutional investor is now in possession of 0.12 million shares of the Financial Company. The new investment brought the stake of investor firm to 10.24% having worth around $618.47 million. Moreover, Atlanta Capital Management Co. LL increased its share by 10116.0 to have a control over 2.44 million shares. And Clarkston Capital Partners LLC raised its holdings to 49201.0 shares by acquiring 2.08 million shares or 5.52% of the stake.

Affiliated Managers Group Inc. (AMG) concluded trading on 01/11/23 at a closing price of $170.06, with 0.5 million shares of worth about $84.86 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 50.38% during that period and on Wednesday the price saw a gain of about 0.09%. Currently the company’s common shares owned by public are about 38.20M shares, out of which, 37.25M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 41 times over the past 12 months. They bought 163,709 shares in 29 of the transactions. In 12 selling transactions, insiders dumped 67,391 shares.

EdgePoint Global Portfolio, Eaton Vance Atlanta Capital SMID, and EdgePoint Global Growth & Income are the top 3 mutual funds which are holding stakes in Affiliated Managers Group Inc. EdgePoint Global Portfolio is currently holding 2.7 million shares of worth totaling $433.46 million. The company recently came selling -0.38 million shares which brought its stake up to 7.17% of the company’s outstanding shares. EdgePoint Global Growth & Income, after selling 1.27 million shares, have now control over 3.37% of the stake in the company. It holds -0.17 million shares of worth $203.73 million.

However, the stock later moved at a day high price of 172.01, or with a gain of 0.09%. Stock saw a price change of 4.34% in past 5 days and over the past one month there was a price change of 9.89%. Year-to-date (YTD), AMG shares are showing a performance of 7.34% which increased to 5.94% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $108.12 but also hit the highest price of $170.13 during that period. The average intraday trading volume for Affiliated Managers Group Inc. shares is 288.76K. The stock is currently trading 7.16% above its 20-day simple moving average (SMA20), while that difference is up 11.28% for SMA50 and it goes to 27.71% higher than SMA200.

The Vanguard Group, Inc. acquired 3.86 million shares of Affiliated Managers Group Inc. having value of about $618.47 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.12 million shares in the company valued at close to $20585592.94, or have control over 3.24% stake in the company. Affiliated Managers Group Inc. (NYSE: AMG) currently have 38.20M outstanding shares and institutions hold larger chunk of about 99.20% of that. Holding of mutual funds in the company is about 37.98% while other institutional holders and individual stake holders have control over 60.47% and 3.22% of the stake respectively.

The stock has a current market capitalization of $6.26B and its 3Y-monthly beta is at 1.34. PE ratio of stock for trailing 12 months is 14.01, while it has posted earnings per share of $12.14 in the same period. Its PEG reads 1.43 while making debt-to-equity ratio of 0.92. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AMG, volatility over the week remained 1.62% while standing at 2.08% over the month.

Analysts are in expectations that Affiliated Managers Group Inc. (AMG) stock would likely to be making an EPS of $3.93 in the current quarter, while forecast for next quarter EPS is $5.45 and it is $18.39 for next year. For the current quarter EPS, analysts have given the company a lowest target $3.84 which is $4.07 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $4 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 191.60% while it is estimated to decrease by -2.71% in next year. EPS is likely to grow at an annualized rate of 9.80% for next 5-years, compared to annual growth of 8.10% made by the stock over the past 5-years.

Analysts at 9 brokerage firms have issued recommendations for the Affiliated Managers Group Inc. (AMG)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 9 Wall Street analysts, 6 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on November 28, 2022 offering a Buy rating for the stock and assigned a target price range of between $149 and $192 to it. Coverage by Goldman stated Affiliated Managers Group Inc. (AMG) stock as a Buy in their note to investors on November 21, 2022, suggesting a price target of $182 for the stock. On October 19, 2022, Credit Suisse Initiated their recommendations, while on December 16, 2021, BofA Securities Initiated their ratings for the stock with a price target of $186. Stock get a Buy rating from Deutsche Bank on July 12, 2021.