Affiliated Managers Group (AMG) Stock Rating Upgraded by Zacks Investment Research

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Affiliated Managers Group (NYSE:AMG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Affiliated Managers’ shares have slightly underperformed the industry over the past three months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. The company remains well positioned for growth, based on successful partnerships, diverse product mix, focus on strengthening its retail market operations and improving AUM. Further, its enhanced capital deployment plan reflects a strong balance sheet position. However, high debt levels remain a major concern and might restrict the company from procuring additional finance. Moreover, the presence of substantial intangible assets on its balance sheet might hamper financials.”

Several other equities analysts have also weighed in on the company. Credit Suisse Group reduced their price objective on Affiliated Managers Group from $162.00 to $123.00 and set a “neutral” rating for the company in a report on Monday, January 14th. Barrington Research reissued a “buy” rating and set a $135.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, January 8th. They noted that the move was a valuation call. Citigroup lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating in a report on Monday, January 14th. Bank of America reissued a “buy” rating and set a $130.00 price objective (down from $155.00) on shares of Affiliated Managers Group in a report on Thursday, December 6th. Finally, Deutsche Bank lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $158.00 to $106.00 in a report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $132.12.

Shares of NYSE AMG opened at $106.76 on Wednesday. Affiliated Managers Group has a 1-year low of $88.46 and a 1-year high of $194.90. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.66 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.71 and a quick ratio of 1.29.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, February 4th. The asset manager reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.51 by $0.02. Affiliated Managers Group had a return on equity of 18.11% and a net margin of 10.24%. The business had revenue of $564.40 million during the quarter, compared to analyst estimates of $568.99 million. During the same period in the prior year, the company earned $4.68 earnings per share. Affiliated Managers Group’s revenue was down 6.6% compared to the same quarter last year. Analysts anticipate that Affiliated Managers Group will post 14.16 earnings per share for the current year.

In other Affiliated Managers Group news, Director Tracy P. Palandjian sold 1,694 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $110.64, for a total transaction of $187,424.16. Following the sale, the director now owns 4,291 shares in the company, valued at $474,756.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Several large investors have recently bought and sold shares of the business. BlackRock Inc. lifted its position in shares of Affiliated Managers Group by 0.3% during the fourth quarter. BlackRock Inc. now owns 3,445,712 shares of the asset manager’s stock worth $335,747,000 after acquiring an additional 9,189 shares in the last quarter. Lyrical Asset Management LP raised its position in shares of Affiliated Managers Group by 1.1% in the third quarter. Lyrical Asset Management LP now owns 1,272,609 shares of the asset manager’s stock worth $173,991,000 after buying an additional 13,536 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Affiliated Managers Group by 8.1% in the third quarter. Schroder Investment Management Group now owns 957,620 shares of the asset manager’s stock worth $130,926,000 after buying an additional 72,162 shares in the last quarter. Ceredex Value Advisors LLC raised its position in shares of Affiliated Managers Group by 30.5% in the fourth quarter. Ceredex Value Advisors LLC now owns 858,500 shares of the asset manager’s stock worth $83,652,000 after buying an additional 200,450 shares in the last quarter. Finally, Kiltearn Partners LLP purchased a new stake in shares of Affiliated Managers Group in the fourth quarter worth $81,521,000. Hedge funds and other institutional investors own 95.07% of the company’s stock.

About Affiliated Managers Group

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.

Further Reading: Cost of Debt

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