Wall Street Zen Upgrades Affiliated Managers Group (NYSE:AMG) to Strong-Buy

Affiliated Managers Group (NYSE:AMG) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

A number of other research firms have also weighed in on AMG. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. The Goldman Sachs Group boosted their price target on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Barrington Research increased their price target on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a research note on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Affiliated Managers Group presently has an average rating of “Moderate Buy” and a consensus target price of $350.14.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $287.58 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.64. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $334.78. The business has a fifty day moving average of $305.75 and a 200-day moving average of $264.90. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.48 and a beta of 1.21.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, February 12th. The asset manager reported $9.48 EPS for the quarter, topping analysts’ consensus estimates of $8.75 by $0.73. The firm had revenue of $556.60 million during the quarter, compared to analysts’ expectations of $578.54 million. Affiliated Managers Group had a return on equity of 18.45% and a net margin of 34.55%.The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.53 EPS. As a group, analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Institutional Trading of Affiliated Managers Group

A number of institutional investors have recently modified their holdings of AMG. Corient Private Wealth LLC lifted its position in Affiliated Managers Group by 310.2% during the fourth quarter. Corient Private Wealth LLC now owns 37,656 shares of the asset manager’s stock valued at $10,855,000 after buying an additional 28,476 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Affiliated Managers Group by 4.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,792 shares of the asset manager’s stock valued at $805,000 after acquiring an additional 123 shares during the period. State of Tennessee Department of Treasury lifted its holdings in shares of Affiliated Managers Group by 2.3% during the 4th quarter. State of Tennessee Department of Treasury now owns 11,610 shares of the asset manager’s stock valued at $3,635,000 after acquiring an additional 257 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in Affiliated Managers Group during the 4th quarter worth $862,000. Finally, Fuller & Thaler Asset Management Inc. boosted its position in Affiliated Managers Group by 20.2% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock worth $197,641,000 after purchasing an additional 115,313 shares during the period. 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 holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.