Affiliated Managers Group, Inc. (AMG) Receives Average Rating of “Hold” from Brokerages

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Affiliated Managers Group, Inc. (NYSE:AMG) has been given a consensus rating of “Hold” by the ten brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $202.43.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank decreased their price objective on Affiliated Managers Group from $187.00 to $172.00 and set a “buy” rating for the company in a research note on Thursday, October 11th. Citigroup upped their price objective on 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 upgraded Affiliated Managers Group from a “market perform” rating to an “outperform” rating and set a $191.00 price objective for the company in a research note on Monday, July 30th. Finally, Barrington Research decreased their price objective on Affiliated Managers Group from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, July 16th.

Several hedge funds and other institutional investors have recently modified their holdings of AMG. Cornerstone Wealth Management LLC purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth $156,000. Cerebellum GP LLC purchased a new stake in Affiliated Managers Group in the second quarter valued at about $172,000. Koch Industries Inc. purchased a new stake in Affiliated Managers Group in the first quarter valued at about $209,000. Alta Capital Management LLC purchased a new stake in Affiliated Managers Group in the third quarter valued at about $227,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Affiliated Managers Group in the first quarter valued at about $247,000. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Shares of AMG traded down $3.61 during midday trading on Thursday, reaching $123.69. 498,800 shares of the stock were exchanged, compared to its average volume of 462,458. Affiliated Managers Group has a 52 week low of $122.13 and a 52 week high of $216.99. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $7.31 billion, a price-to-earnings ratio of 8.51, a PEG ratio of 0.67 and a beta of 1.48.

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

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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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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