Deutsche Bank Cuts Affiliated Managers Group (AMG) Price Target to $164.00

Affiliated Managers Group (NYSE:AMG) had its price objective trimmed by Deutsche Bank from $166.00 to $164.00 in a research note published on Tuesday morning. The firm currently has a buy rating on the asset manager’s stock.

AMG has been the subject of several other reports. Citigroup decreased their price objective on shares of Affiliated Managers Group from $195.00 to $140.00 and set a buy rating for the company in a report on Tuesday. Barrington Research decreased their price objective on shares of Affiliated Managers Group from $220.00 to $200.00 and set an outperform rating for the company in a report on Monday, July 16th. Keefe, Bruyette & Woods upgraded shares of Affiliated Managers Group from a market perform rating to an outperform rating and set a $191.00 price objective for the company in a report on Monday, July 30th. Finally, Zacks Investment Research upgraded shares of Affiliated Managers Group from a sell rating to a hold rating in a report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of $190.50.

Shares of NYSE AMG opened at $118.26 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.28 and a quick ratio of 1.33. Affiliated Managers Group has a 12 month low of $110.27 and a 12 month high of $216.99. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of 7.35, a P/E/G ratio of 0.63 and a beta of 1.48.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, October 29th. The asset manager reported $3.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a net margin of 29.38% and a return on equity of 19.37%. The business had revenue of $601.30 million during the quarter, compared to analyst estimates of $604.82 million. During the same period in the prior year, the business earned $3.41 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that Affiliated Managers Group will post 14.8 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Thursday, November 8th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Wednesday, November 7th. Affiliated Managers Group’s dividend payout ratio is presently 8.22%.

Several large investors have recently added to or reduced their stakes in AMG. EdgePoint Investment Group Inc. grew its position in shares of Affiliated Managers Group by 28.7% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,906,740 shares of the asset manager’s stock worth $432,145,000 after buying an additional 648,919 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter worth about $61,787,000. Canada Pension Plan Investment Board grew its position in shares of Affiliated Managers Group by 1,387.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 360,321 shares of the asset manager’s stock worth $53,569,000 after buying an additional 336,094 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Affiliated Managers Group by 91.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 584,135 shares of the asset manager’s stock worth $86,844,000 after buying an additional 278,337 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Affiliated Managers Group by 86.3% in the 2nd quarter. American Century Companies Inc. now owns 547,002 shares of the asset manager’s stock worth $81,323,000 after buying an additional 253,376 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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