Affiliated Managers Group (AMG) Price Target Cut to $172.00

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Affiliated Managers Group (NYSE:AMG) had its price target reduced by equities research analysts at Deutsche Bank from $187.00 to $172.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Deutsche Bank’s price objective would indicate a potential upside of 38.66% from the company’s current price.

A number of other brokerages also recently weighed in on AMG. Citigroup boosted their target price on shares of Affiliated Managers Group from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 31st. Keefe, Bruyette & Woods raised shares of Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 target price for the company in a research note on Monday, July 30th. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research note on Tuesday, June 19th. ValuEngine downgraded shares of Affiliated Managers Group from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 21st. Finally, TheStreet downgraded shares of Affiliated Managers Group from a “b-” rating to a “c+” rating in a research note on Monday, June 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $205.25.

Shares of NYSE AMG opened at $124.04 on Thursday. Affiliated Managers Group has a 1-year low of $122.13 and a 1-year high of $216.99. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 0.67 and a beta of 1.48. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.43.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 30th. The asset manager reported $3.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.59 by $0.02. Affiliated Managers Group had a net margin of 29.59% and a return on equity of 19.44%. The company had revenue of $600.10 million during the quarter, compared to the consensus estimate of $604.68 million. During the same period in the previous year, the firm posted $3.33 earnings per share. The company’s revenue was up 5.1% on a year-over-year basis. On average, equities research analysts anticipate that Affiliated Managers Group will post 15.43 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Koch Industries Inc. bought a new stake in shares of Affiliated Managers Group during the first quarter worth approximately $209,000. Cerebellum GP LLC bought a new stake in shares of Affiliated Managers Group during the second quarter worth approximately $172,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Affiliated Managers Group during the first quarter worth approximately $247,000. Hilltop Holdings Inc. bought a new stake in shares of Affiliated Managers Group during the first quarter worth approximately $291,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Affiliated Managers Group during the second quarter worth approximately $263,000. 93.96% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Company Profile

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. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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