Affiliated Managers Group (AMG) Rating Increased to Buy at Citigroup

Affiliated Managers Group (NYSE:AMG) was upgraded by analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Friday.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $225.00 price objective for the company in a research note on Tuesday, January 9th. Jefferies Group restated a “buy” rating and issued a $226.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $229.00 price objective on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Credit Suisse Group restated a “hold” rating and issued a $215.00 price objective on shares of Affiliated Managers Group in a research note on Friday, January 12th. Finally, Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 target price for the company. in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Affiliated Managers Group has an average rating of “Buy” and an average target price of $211.00.

Affiliated Managers Group (AMG) opened at $212.00 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24. Affiliated Managers Group has a 12 month low of $141.58 and a 12 month high of $213.86. The stock has a market cap of $11,412.08, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 0.73 and a beta of 1.71.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The company had revenue of $585.70 million during the quarter, compared to the consensus estimate of $586.55 million. During the same quarter in the prior year, the firm posted $3.02 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 7.5% on a year-over-year basis. equities research analysts forecast that Affiliated Managers Group will post 14.48 EPS for the current fiscal year.

In other news, Director Dwight D. Churchill sold 2,080 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $184.28, for a total value of $383,302.40. Following the completion of the sale, the director now directly owns 6,104 shares of the company’s stock, valued at $1,124,845.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Peter W. Macewen sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the completion of the sale, the insider now directly owns 37,682 shares of the company’s stock, valued at $7,448,600.94. The disclosure for this sale can be found here. Insiders sold 89,585 shares of company stock valued at $16,734,012 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

Several large investors have recently made changes to their positions in AMG. Tributary Capital Management LLC purchased a new position in Affiliated Managers Group during the third quarter worth about $100,000. Advisor Group Inc. raised its holdings in Affiliated Managers Group by 46.2% during the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after purchasing an additional 228 shares in the last quarter. Gofen & Glossberg LLC IL purchased a new position in Affiliated Managers Group during the fourth quarter worth about $206,000. First Citizens Bank & Trust Co. purchased a new position in Affiliated Managers Group during the fourth quarter worth about $214,000. Finally, Douglas Lane & Associates LLC purchased a new position in Affiliated Managers Group during the third quarter worth about $200,000. 95.52% of the stock is owned by institutional investors and hedge funds.

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About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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