Shares of Affiliated Managers Group Inc. (NYSE:AMG) traded today at $180.29, eclipsing its 52-week high. Approximately 53,000 shares have changed hands today, as compared to an average 30-day volume of 322,000 shares.
Over the past year, Affiliated Managers Group Inc. has traded in a range of $62.19 to $180.29 and is now at $180.07, 190% above that low.
Affiliated Managers Group offers investment strategies to investors through its network of affiliates. The firm typically buys a majority interest in small to midsize boutique asset managers, receiving a fixed percentage of revenue from these firms in return. Affiliates operate independently, with AMG providing strategic, operational, and technology support, as well as global distribution. At the end of 2020, AMG’s affiliate network–which includes firms like AQR Capital Management, BPEA and Pantheon in alternative assets and other products (which accounted for 30% of AUM), Artemis, Genesis, Harding Loevner, and Tweedy Browne in global equities (39%) and Frontier, River Road, and Yacktman in U.S. equities (14%)–had $716.2 billion in managed assets.
Affiliated Managers Group Inc. (NYSE:AMG) defies analysts with a current price ($180.07) 54.3% above its average consensus price target of $82.21.
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