Goldman Sachs Group downgraded shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a neutral rating in a research note published on Tuesday, Marketbeat Ratings reports. They currently have $216.00 price target on the asset manager’s stock.
Other equities analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods restated a buy rating and set a $229.00 price objective on shares of Affiliated Managers Group in a report on Thursday, October 12th. Zacks Investment Research cut Affiliated Managers Group from a buy rating to a hold rating in a report on Thursday, January 4th. Credit Suisse Group cut Affiliated Managers Group from an outperform rating to a neutral rating and set a $220.00 price objective for the company. in a report on Wednesday, January 3rd. Jefferies Group restated a buy rating and set a $226.00 price objective on shares of Affiliated Managers Group in a report on Thursday, October 12th. Finally, Barrington Research reiterated an outperform rating and issued a $215.00 target price on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $211.00.
Affiliated Managers Group (AMG) traded up $2.08 on Tuesday, reaching $202.80. The company had a trading volume of 245,522 shares, compared to its average volume of 244,251. Affiliated Managers Group has a one year low of $139.52 and a one year high of $207.67. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The stock has a market cap of $11,156.40, a PE ratio of 21.95, a P/E/G ratio of 0.72 and a beta of 1.71.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The company had revenue of $585.70 million during the quarter, compared to analysts’ expectations of $586.55 million. During the same quarter in the previous year, the business earned $3.02 EPS. Affiliated Managers Group’s revenue was up 7.5% compared to the same quarter last year. sell-side analysts anticipate that Affiliated Managers Group will post 14.48 EPS for the current fiscal year.
In other Affiliated Managers Group news, Director Dwight D. Churchill sold 2,080 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was 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 in the company, valued at approximately $1,124,845.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Patrick T. Ryan sold 7,705 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $185.27, for a total value of $1,427,505.35. Following the completion of the sale, the director now owns 6,797 shares of the company’s stock, valued at $1,259,280.19. The disclosure for this sale can be found here. Insiders sold a total of 89,585 shares of company stock valued at $16,734,012 over the last quarter. Company insiders own 1.40% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Douglas Lane & Associates LLC purchased a new stake in shares of Affiliated Managers Group in the 3rd quarter worth $200,000. BNP Paribas Arbitrage SA raised its position in shares of Affiliated Managers Group by 31.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 35,948 shares of the asset manager’s stock worth $6,824,000 after acquiring an additional 8,641 shares in the last quarter. Rhumbline Advisers raised its position in shares of Affiliated Managers Group by 2.1% in the 3rd quarter. Rhumbline Advisers now owns 103,393 shares of the asset manager’s stock worth $19,627,000 after acquiring an additional 2,148 shares in the last quarter. Nomura Holdings Inc. bought a new position in shares of Affiliated Managers Group in the 2nd quarter worth $712,000. Finally, JPMorgan Chase & Co. raised its position in shares of Affiliated Managers Group by 16.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 593,301 shares of the asset manager’s stock worth $112,364,000 after acquiring an additional 83,018 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.
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Affiliated Managers Group Company Profile
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.
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