Affiliated Managers Group (AMG) Upgraded at Citigroup

Citigroup upgraded shares of Affiliated Managers Group (NYSE:AMG) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat.com reports.

AMG has been the topic of several other research reports. Zacks Investment Research cut Affiliated Managers Group from a buy rating to a hold rating in a research report on Tuesday, October 10th. Credit Suisse Group reiterated a hold rating and set a $215.00 target price on shares of Affiliated Managers Group in a research report on Friday, January 12th. Barrington Research reiterated an outperform rating and set a $215.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Jefferies Group reiterated a buy rating and set a $226.00 target price on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Finally, Goldman Sachs Group cut Affiliated Managers Group from a buy rating to a neutral rating and set a $216.00 target price on the stock. in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $211.00.

Affiliated Managers Group (NYSE AMG) opened at $212.00 on Friday. The stock has a market capitalization of $11,780.00, a PE ratio of 22.94, a P/E/G ratio of 0.76 and a beta of 1.71. Affiliated Managers Group has a 52-week low of $141.58 and a 52-week high of $213.86. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.61 and a quick ratio of 0.61.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.36 by $0.05. The firm had revenue of $585.70 million for the quarter, compared to analysts’ expectations of $586.55 million. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.02 EPS. equities analysts expect that Affiliated Managers Group will post 14.48 earnings per share for the current fiscal year.

In other Affiliated Managers Group news, Director Dwight D. Churchill sold 2,080 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $184.28, for a total transaction of $383,302.40. Following the transaction, the director now owns 6,104 shares in the company, valued at approximately $1,124,845.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter W. Macewen sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total value of $1,976,700.00. Following the sale, the insider now directly owns 37,682 shares in the company, valued at approximately $7,448,600.94. The disclosure for this sale can be found here. Insiders have sold a total of 89,585 shares of company stock worth $16,734,012 in the last quarter. 1.40% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in AMG. Norinchukin Bank The boosted its stake in shares of Affiliated Managers Group by 12.1% during the 2nd quarter. Norinchukin Bank The now owns 2,235 shares of the asset manager’s stock worth $371,000 after acquiring an additional 242 shares in the last quarter. Amalgamated Bank boosted its stake in shares of Affiliated Managers Group by 54.5% during the 2nd quarter. Amalgamated Bank now owns 6,257 shares of the asset manager’s stock worth $1,038,000 after acquiring an additional 2,207 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Affiliated Managers Group by 29.2% during the 2nd quarter. ProShare Advisors LLC now owns 16,865 shares of the asset manager’s stock worth $2,797,000 after acquiring an additional 3,811 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Affiliated Managers Group by 9.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 149,460 shares of the asset manager’s stock worth $24,789,000 after acquiring an additional 12,734 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Affiliated Managers Group by 0.5% during the 2nd quarter. Northern Trust Corp now owns 599,967 shares of the asset manager’s stock worth $99,510,000 after acquiring an additional 3,280 shares in the last quarter. 95.49% 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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