AMG - Shares of Affiliated Managers Group Inc. (AMG) Have Risen Above Previous 52-Week High

Shares of Affiliated Managers Group Inc. (NYSE:AMG) traded today at $176.64, eclipsing its 52-week high. This new high was reached on below average trading volume as 60,000 shares traded hands, while the average 30-day volume is approximately 270,000 shares.

Affiliated Managers Group Inc. (NYSE:AMG) defies analysts with a current price ($176.04) 46.6% above its average consensus price target of $93.96.

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.

In the past 52 weeks, shares of Affiliated Managers Group Inc. have traded between a low of $56.80 and a high of $176.64 and is now at $176.04, which is 210% above that low price.

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