Affiliated Managers Group (NYSE:AMG) Earns “Buy” Rating from TD Cowen

Affiliated Managers Group (NYSE:AMG)‘s stock had its “buy” rating reaffirmed by equities research analysts at TD Cowen in a report issued on Tuesday, Benzinga reports. They currently have a $512.00 price objective on the asset manager’s stock. TD Cowen’s target price suggests a potential upside of 38.19% from the company’s previous close.

Other analysts have also issued reports about the company. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research report on Friday, July 31st. Wall Street Zen lowered Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $379.14.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $370.52 on Tuesday. The stock has a 50-day moving average price of $362.83 and a 200 day moving average price of $330.21. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 0.51 and a beta of 1.10. Affiliated Managers Group has a 12 month low of $230.10 and a 12 month high of $392.92.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping analysts’ consensus estimates of $7.90 by $0.39. The firm had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The company’s revenue was up .0% on a year-over-year basis. During the same period last year, the company earned $5.39 earnings per share. Research analysts expect that Affiliated Managers Group will post 36.69 EPS for the current year.

Institutional Investors Weigh In On Affiliated Managers Group

Several institutional investors and hedge funds have recently made changes to their positions in AMG. Danske Bank A S acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $622,000. Sei Investments Co. grew its stake in Affiliated Managers Group by 5.2% in the first quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock valued at $29,787,000 after acquiring an additional 5,357 shares during the period. Bank of America Corp DE acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $146,331,000. Deutsche Bank AG acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $13,432,000. Finally, Tidal Investments LLC grew its stake in Affiliated Managers Group by 129.8% in the second quarter. Tidal Investments LLC now owns 6,355 shares of the asset manager’s stock valued at $2,151,000 after acquiring an additional 3,589 shares during the period. Institutional investors and hedge funds 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. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG’s affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.