Affiliated Managers Group (NYSE:AMG) had its target price hoisted by Deutsche Bank from $213.00 to $215.00 in a research note issued to investors on Friday. Deutsche Bank currently has a buy rating on the asset manager’s stock.
A number of other research analysts have also issued reports on the company. Zacks Investment Research lowered Affiliated Managers Group from a hold rating to a sell rating in a report on Tuesday, April 3rd. ValuEngine lowered Affiliated Managers Group from a buy rating to a hold rating in a report on Monday, April 2nd. Barrington Research lifted their target price on Affiliated Managers Group to $240.00 and gave the company an outperform rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup lifted their target price on Affiliated Managers Group from $250.00 to $260.00 and gave the company a buy rating in a report on Tuesday, January 30th. Finally, Credit Suisse Group restated a hold rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $228.25.
NYSE:AMG opened at $176.44 on Friday. The firm has a market capitalization of $9,615.27, a P/E ratio of 12.08, a P/E/G ratio of 0.63 and a beta of 1.51. Affiliated Managers Group has a 12-month low of $148.81 and a 12-month high of $216.99. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.23.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, January 29th. The asset manager reported $4.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.55 by $0.13. The firm had revenue of $604.10 million during the quarter, compared to analyst estimates of $608.51 million. Affiliated Managers Group had a return on equity of 18.61% and a net margin of 29.92%. Affiliated Managers Group’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $3.80 earnings per share. equities research analysts predict that Affiliated Managers Group will post 17.21 earnings per share for the current year.
Affiliated Managers Group announced that its board has authorized a share buyback plan on Monday, January 29th that allows the company to repurchase 3,400,000 outstanding shares. This repurchase authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.
In other Affiliated Managers Group news, CFO Jay C. Horgen sold 30,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $189.59, for a total value of $5,687,700.00. Following the sale, the chief financial officer now directly owns 114,039 shares in the company, valued at $21,620,654.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in Affiliated Managers Group by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,456,274 shares of the asset manager’s stock valued at $709,402,000 after buying an additional 96,556 shares in the last quarter. BlackRock Inc. increased its position in shares of Affiliated Managers Group by 0.8% during the fourth quarter. BlackRock Inc. now owns 3,430,442 shares of the asset manager’s stock worth $704,097,000 after purchasing an additional 27,729 shares in the last quarter. Atlanta Capital Management Co. L L C increased its position in shares of Affiliated Managers Group by 6.1% during the fourth quarter. Atlanta Capital Management Co. L L C now owns 2,052,330 shares of the asset manager’s stock worth $421,240,000 after purchasing an additional 117,377 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Affiliated Managers Group by 1.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,584,476 shares of the asset manager’s stock worth $325,214,000 after purchasing an additional 24,985 shares in the last quarter. Finally, Lyrical Asset Management LP increased its position in shares of Affiliated Managers Group by 3.6% during the fourth quarter. Lyrical Asset Management LP now owns 1,167,853 shares of the asset manager’s stock worth $239,702,000 after purchasing an additional 40,317 shares in the last quarter. Institutional investors own 96.65% of the company’s stock.
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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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