Shares of Affiliated Managers Group, Inc. (NYSE:AMG – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $388.33.
Several equities analysts have issued reports on the company. TD Cowen boosted their target price on Affiliated Managers Group from $512.00 to $523.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Weiss Ratings raised Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Finally, Barrington Research set a $425.00 price objective on Affiliated Managers Group in a research report on Friday, July 31st.
View Our Latest Research Report on Affiliated Managers Group
Affiliated Managers Group Stock Down 3.1%
AMG stock opened at $383.14 on Friday. Affiliated Managers Group has a one year low of $235.04 and a one year high of $399.00. The stock has a market capitalization of $9.91 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.49 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The company has a fifty day moving average of $369.03 and a 200-day moving average of $344.00.
Affiliated Managers Group (NYSE:AMG – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The business had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $5.39 earnings per share. As a group, analysts expect that Affiliated Managers Group will post 36.87 EPS for the current year.
Hedge Funds Weigh In On Affiliated Managers Group
A number of large investors have recently made changes to their positions in AMG. BlackRock Inc. purchased a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $938,294,000. Bank of America Corp DE acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter worth approximately $146,331,000. Bank of New York Mellon Corp acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter worth approximately $95,418,000. Bruni J V & Co. Co. purchased a new position in Affiliated Managers Group in the 2nd quarter valued at approximately $71,095,810. Finally, Kiltearn Partners LLP purchased a new position in Affiliated Managers Group in the 2nd quarter valued at approximately $62,464,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.
About Affiliated Managers Group
Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.
Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.
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