Affiliated Managers Group (NYSE:AMG – Get Free Report) had its price objective hoisted by research analysts at TD Cowen from $512.00 to $523.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. TD Cowen’s price objective indicates a potential upside of 37.78% from the company’s current price.
Other research analysts have also recently issued reports about the company. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Weiss Ratings upgraded shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $388.33.
Get Our Latest Stock Report on Affiliated Managers Group
Affiliated Managers Group Stock Down 0.6%
Affiliated Managers Group (NYSE:AMG – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The company had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. During the same period in the previous year, the company earned $5.39 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. As a group, analysts forecast that Affiliated Managers Group will post 36.75 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of AMG. GAMMA Investing LLC boosted its stake in shares of Affiliated Managers Group by 2.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock valued at $539,000 after purchasing an additional 34 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Affiliated Managers Group by 7.0% during the third quarter. Versant Capital Management Inc now owns 548 shares of the asset manager’s stock worth $200,000 after buying an additional 36 shares during the period. Wedmont Private Capital raised its stake in Affiliated Managers Group by 5.3% during the second quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock worth $283,000 after buying an additional 39 shares during the last quarter. Parallel Advisors LLC raised its stake in Affiliated Managers Group by 4.3% during the first quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock worth $281,000 after buying an additional 42 shares during the last quarter. Finally, Private Client Services LLC lifted its holdings in Affiliated Managers Group by 1.2% in the third quarter. Private Client Services LLC now owns 3,693 shares of the asset manager’s stock valued at $1,350,000 after buying an additional 44 shares during the period. 95.30% of the stock is currently owned by institutional investors.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.
Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.
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