Affiliated Managers Group (NYSE:AMG) Stock Rating Reaffirmed as Buy by TD Cowen

Affiliated Managers Group (NYSE:AMG)‘s stock had its “buy” rating restated by research analysts at TD Cowen in a report issued on Tuesday, Benzinga reports. They currently have a $512.00 price target on the asset manager’s stock. TD Cowen’s price objective would indicate a potential upside of 39.02% from the company’s current price.

AMG has been the topic of a number of other reports. Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Tuesday, September 22nd. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Affiliated Managers Group has a consensus rating of “Buy” and an average price target of $379.14.

Affiliated Managers Group Price Performance

Affiliated Managers Group stock opened at $368.29 on Tuesday. The company has a 50-day moving average price of $362.83 and a 200 day moving average price of $330.21. Affiliated Managers Group has a 12-month low of $230.10 and a 12-month high of $392.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $9.52 billion, a P/E ratio of 12.76, a PEG ratio of 0.51 and a beta of 1.10.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The firm had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. During the same quarter in the previous year, the company earned $5.39 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Affiliated Managers Group will post 36.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. N.E.W. Advisory Services LLC acquired a new stake in shares of Affiliated Managers Group in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Affiliated Managers Group during the 4th quarter worth about $42,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Affiliated Managers Group in the second quarter valued at approximately $48,000. EverSource Wealth Advisors LLC lifted its stake in shares of Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock valued at $50,000 after buying an additional 56 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in Affiliated Managers Group during the second quarter worth approximately $61,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Company Profile

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.