Affiliated Managers Group Stock Hits New 52-Week High (AMG)

NEW YORK ( TheStreet) -- Affiliated Managers Group (NYSE: AMG) hit a new 52-week high Tuesday as it is currently trading at $116.12, above its previous 52-week high of $115.82 with 43,960 shares traded as of 10:05 a.m. ET. Average volume has been 506,900 shares over the past 30 days.

Affiliated Managers Group has a market cap of $5.8 billion and is part of the financial sector and financial services industry. Shares are up 17.8% year to date as of the close of trading on Monday.

Affiliated Managers Group, Inc., through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. The company has a P/E ratio of 29.2, below the average financial services industry P/E ratio of 47.9 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Affiliated Managers Group as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Affiliated Managers Group Ratings Report.

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