AMG - Watch for Continued Gains in Shares of Affiliated Managers Group Inc. (AMG)

Shares of Affiliated Managers Group Inc. (NYSE:AMG) traded today at $159.28, eclipsing its 52-week high. Approximately 106,000 shares have changed hands today, as compared to an average 30-day volume of 426,000 shares.

Affiliated Managers Group Inc. (NYSE:AMG) defies analysts with a current price ($155.23) 0.8% above its average consensus price target of $153.99.

Affiliated Managers Group Inc. share prices have moved between a 52-week high of $159.28 and a 52-week low of $56.80 and are now trading 173% above that low price at $155.23 per share.

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.

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