Affiliated Managers Group, Inc. (NYSE:AMG) has been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $96.70.
AMG has been the topic of a number of recent research reports. Barrington Research set a $100.00 target price on shares of Affiliated Managers Group and gave the stock a “buy” rating in a research report on Friday, October 11th. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating and set a $81.00 target price on the stock in a research report on Thursday, October 3rd. ValuEngine raised shares of Affiliated Managers Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Citigroup cut their price objective on shares of Affiliated Managers Group from $98.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Bank of America increased their price objective on shares of Affiliated Managers Group from $75.00 to $85.00 and gave the company an “underperform” rating in a research report on Tuesday, October 8th.
In related news, Director Samuel T. Byrne bought 6,589 shares of the stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $88.77 per share, for a total transaction of $584,905.53. Following the purchase, the director now owns 19,082 shares of the company’s stock, valued at $1,693,909.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Nathaniel Dalton sold 23,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $76.86, for a total transaction of $1,767,780.00. Following the transaction, the director now owns 208,346 shares in the company, valued at approximately $16,013,473.56. The disclosure for this sale can be found here. Corporate insiders own 1.43% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Ossiam bought a new stake in Affiliated Managers Group during the 2nd quarter worth approximately $48,000. Rampart Investment Management Company LLC grew its holdings in Affiliated Managers Group by 39.6% during the 2nd quarter. Rampart Investment Management Company LLC now owns 666 shares of the asset manager’s stock valued at $61,000 after buying an additional 189 shares in the last quarter. Truvestments Capital LLC purchased a new stake in Affiliated Managers Group during the 2nd quarter valued at approximately $74,000. CSat Investment Advisory L.P. grew its holdings in Affiliated Managers Group by 64.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 847 shares of the asset manager’s stock valued at $78,000 after buying an additional 332 shares in the last quarter. Finally, ETF Managers Group LLC purchased a new stake in Affiliated Managers Group during the 2nd quarter valued at approximately $151,000. Institutional investors and hedge funds own 94.91% of the company’s stock.
Shares of NYSE AMG opened at $74.58 on Monday. Affiliated Managers Group has a 12 month low of $71.08 and a 12 month high of $125.42. The firm has a market capitalization of $3.78 billion, a PE ratio of 5.14, a price-to-earnings-growth ratio of 0.56 and a beta of 1.65. The firm has a fifty day simple moving average of $80.08 and a two-hundred day simple moving average of $89.45.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, July 29th. The asset manager reported $3.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.19 by $0.14. The firm had revenue of $591.90 million for the quarter, compared to the consensus estimate of $540.89 million. Affiliated Managers Group had a negative net margin of 5.19% and a positive return on equity of 17.68%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.61 EPS. Research analysts expect that Affiliated Managers Group will post 13.41 EPS for the current year.
About Affiliated Managers Group
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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