Affiliated Managers Group (NYSE:AMG) PT Raised to $202.00 at Deutsche Bank Aktiengesellschaft

Affiliated Managers Group (NYSE:AMG) had its price target boosted by Deutsche Bank Aktiengesellschaft from $188.00 to $202.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

Several other analysts have also issued reports on the company. TD Cowen boosted their price target on Affiliated Managers Group from $198.00 to $201.00 and gave the company a buy rating in a report on Monday, July 8th. Barrington Research upped their price objective on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an outperform rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $199.20.

Affiliated Managers Group Stock Performance

NYSE:AMG opened at $169.47 on Tuesday. The stock has a 50-day simple moving average of $162.32 and a two-hundred day simple moving average of $159.81. Affiliated Managers Group has a 52-week low of $120.22 and a 52-week high of $189.81. The firm has a market capitalization of $5.40 billion, a PE ratio of 9.40, a P/E/G ratio of 0.64 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.60 by $0.07. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The business had revenue of $500.30 million during the quarter, compared to analyst estimates of $518.03 million. During the same quarter in the previous year, the company posted $4.45 earnings per share. Affiliated Managers Group’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts forecast that Affiliated Managers Group will post 21.82 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date is Thursday, August 8th. Affiliated Managers Group’s dividend payout ratio (DPR) is 0.22%.

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds have recently made changes to their positions in AMG. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Affiliated Managers Group in the fourth quarter worth about $260,000. Pacer Advisors Inc. lifted its position in shares of Affiliated Managers Group by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 5,082 shares of the asset manager’s stock worth $770,000 after buying an additional 928 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Affiliated Managers Group by 17.1% in the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock worth $93,000 after buying an additional 90 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of Affiliated Managers Group in the fourth quarter worth about $204,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Affiliated Managers Group in the fourth quarter worth about $590,000. 95.30% 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 investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.