Affiliated Managers Group (NYSE:AMG) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a hold rating in a research note published on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Cowen upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Zacks Research lowered Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Bank of America lifted their target price on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, TD Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.60.

Affiliated Managers Group Stock Performance

AMG stock opened at $235.89 on Friday. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 0.60 and a beta of 1.21. Affiliated Managers Group has a 1 year low of $139.22 and a 1 year high of $250.15. The stock’s fifty day moving average is $232.11 and its two-hundred day moving average is $200.38.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.13. The company had revenue of $493.20 million for the quarter, compared to analysts’ expectations of $506.46 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $4.67 earnings per share. As a group, analysts predict that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.29%.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the sale, the chief operating officer directly owned 158,710 shares in the company, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.20% of the company’s stock.

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors have recently bought and sold shares of AMG. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after acquiring an additional 107 shares during the period. Millstone Evans Group LLC lifted its holdings in shares of Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock valued at $28,000 after buying an additional 102 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Affiliated Managers Group during the 1st quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Affiliated Managers Group by 80.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager’s stock valued at $45,000 after buying an additional 102 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at about $49,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.