Affiliated Managers Group’s (AMG) “Hold” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group restated their hold rating on shares of Affiliated Managers Group (NYSE:AMG) in a research report released on Friday. The firm currently has a $215.00 price target on the asset manager’s stock.

Several other equities research analysts have also recently weighed in on AMG. Zacks Investment Research upgraded shares of Affiliated Managers Group from a hold rating to a buy rating and set a $213.00 price objective for the company in a research report on Monday, October 2nd. Barrington Research reissued an outperform rating and set a $215.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reissued a buy rating and set a $229.00 target price on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Jefferies Group reissued a buy rating and set a $226.00 target price on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Finally, Goldman Sachs Group lowered shares of Affiliated Managers Group from a buy rating to a neutral rating and set a $216.00 target price on the stock. in a research note on Tuesday. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Affiliated Managers Group has an average rating of Buy and an average price target of $211.00.

Affiliated Managers Group (NYSE AMG) traded up $2.08 on Friday, hitting $202.80. 245,522 shares of the stock traded hands, compared to its average volume of 279,645. Affiliated Managers Group has a 52 week low of $139.52 and a 52 week high of $207.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $11,270.00, a PE ratio of 21.95, a PEG 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 for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $586.55 million. During the same period in the prior year, the company posted $3.02 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 7.5% compared to the same quarter last year. equities research analysts anticipate that Affiliated Managers Group will post 14.48 EPS for the current fiscal year.

In related news, Director Dwight D. Churchill sold 2,080 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $184.28, for a total transaction of $383,302.40. Following the transaction, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Patrick T. Ryan sold 7,705 shares of the stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $185.27, for a total transaction of $1,427,505.35. Following the transaction, the director now directly owns 6,797 shares in the company, valued at $1,259,280.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,585 shares of company stock worth $16,734,012. 1.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AMG. Stephens Inc. AR lifted its stake in shares of Affiliated Managers Group by 0.4% in the second quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock valued at $373,000 after buying an additional 9 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Affiliated Managers Group by 7.9% in the second quarter. Pacer Advisors Inc. now owns 1,183 shares of the asset manager’s stock valued at $196,000 after buying an additional 87 shares in the last quarter. Bancorpsouth Inc. lifted its stake in shares of Affiliated Managers Group by 12.0% in the second quarter. Bancorpsouth Inc. now owns 1,695 shares of the asset manager’s stock valued at $281,000 after buying an additional 181 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock valued at $120,000 after buying an additional 228 shares in the last quarter. Finally, Norinchukin Bank The lifted its stake in shares of Affiliated Managers Group by 12.1% in the second quarter. Norinchukin Bank The now owns 2,235 shares of the asset manager’s stock valued at $371,000 after buying an additional 242 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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