Affiliated Managers Group (NYSE:AMG) Given New $455.00 Price Target at Barrington Research

Affiliated Managers Group (NYSE:AMG – Get Free Report) had its target price increased by investment analysts at Barrington Research from $425.00 to $455.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Barrington Research‘s price target suggests a potential upside of 13.94% from the stock’s current price.

Several other analysts also recently issued reports on AMG. Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. TD Cowen upped their price target on shares of Affiliated Managers Group from $523.00 to $583.00 and gave the company a “buy” rating in a research note on Tuesday. Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Finally, Weiss Ratings lowered shares of Affiliated Managers Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $460.75.

Check Out Our Latest Research Report on Affiliated Managers Group

Affiliated Managers Group Stock Performance

AMG stock traded down $2.60 during mid-day trading on Thursday, hitting $399.33. 66,640 shares of the company were exchanged, compared to its average volume of 341,502. Affiliated Managers Group has a 1-year low of $246.11 and a 1-year high of $408.07. The stock has a market capitalization of $9.86 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.51 and a beta of 1.05. The business has a 50 day simple moving average of $373.43 and a 200-day simple moving average of $334.93. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.86.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last posted its earnings results on Monday, November 9th. The asset manager reported $9.50 EPS for the quarter, beating the consensus estimate of $8.79 by $0.71. The company had revenue of $595.20 million for the quarter, compared to the consensus estimate of $655.08 million. Affiliated Managers Group had a return on equity of 24.44% and a net margin of 34.96%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.10 earnings per share. On average, equities analysts forecast that Affiliated Managers Group will post 37.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Danske Bank A S acquired a new stake in Affiliated Managers Group during the second quarter worth about $622,000. Van ECK Associates Corp bought a new position in Affiliated Managers Group in the 2nd quarter valued at about $6,853,000. Bank of America Corp DE acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $146,331,000. Secure Asset Management LLC acquired a new position in shares of Affiliated Managers Group in the 2nd quarter valued at approximately $208,000. Finally, Engineers Gate Manager LP raised its position in shares of Affiliated Managers Group by 161.4% in the 2nd quarter. Engineers Gate Manager LP now owns 51,861 shares of the asset manager’s stock valued at $17,550,000 after buying an additional 32,023 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

(Get Free Report)

Affiliated Managers Group, Inc. (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.

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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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