Affiliated Managers Group (NYSE:AMG) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Friday.
AMG has been the subject of a number of other reports. Barrington Research reissued an “outperform” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a research note on Tuesday, January 2nd. Credit Suisse Group reissued a “hold” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a research note on Friday, January 12th. Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 target price for the company. in a research note on Tuesday, January 9th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $226.00 target price on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $211.00.
Affiliated Managers Group (AMG) traded down $2.36 during mid-day trading on Friday, reaching $205.32. 216,500 shares of the company were exchanged, compared to its average volume of 289,675. Affiliated Managers Group has a 12 month low of $140.75 and a 12 month high of $208.50. The company has a market capitalization of $11,543.25, a P/E ratio of 22.22, a P/E/G ratio of 0.74 and a beta of 1.71. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.36 by $0.05. Affiliated Managers Group had a net margin of 23.29% and a return on equity of 17.63%. The company had revenue of $585.70 million during the quarter, compared to the consensus estimate of $586.55 million. During the same period in the prior year, the firm earned $3.02 earnings per share. Affiliated Managers Group’s revenue was up 7.5% on a year-over-year basis. equities research analysts anticipate that Affiliated Managers Group will post 14.48 earnings per share for the current year.
In other news, CEO Sean M. Healey sold 69,800 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the sale, the chief executive officer now owns 194,943 shares in the company, valued at $36,158,027.64. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight D. Churchill sold 2,080 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $184.28, for a total transaction of $383,302.40. Following the sale, the director now owns 6,104 shares in the company, valued at approximately $1,124,845.12. The disclosure for this sale can be found here. Insiders have sold 89,585 shares of company stock valued at $16,734,012 in the last ninety days. Insiders own 1.40% of the company’s stock.
Large investors have recently bought and sold shares of the company. Douglas Lane & Associates LLC purchased a new stake in shares of Affiliated Managers Group during the third quarter valued at approximately $200,000. BNP Paribas Arbitrage SA grew its holdings in shares of Affiliated Managers Group by 31.6% during the third quarter. BNP Paribas Arbitrage SA now owns 35,948 shares of the asset manager’s stock valued at $6,824,000 after buying an additional 8,641 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Affiliated Managers Group by 2.1% during the third quarter. Rhumbline Advisers now owns 103,393 shares of the asset manager’s stock valued at $19,627,000 after buying an additional 2,148 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Affiliated Managers Group during the second quarter valued at approximately $712,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Affiliated Managers Group by 16.3% during the third quarter. JPMorgan Chase & Co. now owns 593,301 shares of the asset manager’s stock valued at $112,364,000 after buying an additional 83,018 shares during the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.
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Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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