Affiliated Managers Group (NYSE:AMG) Given Buy Rating at TD Cowen

Affiliated Managers Group (NYSE:AMG)‘s stock had its “buy” rating reaffirmed by TD Cowen in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $512.00 price objective on the asset manager’s stock. TD Cowen’s price objective indicates a potential upside of 39.38% from the stock’s current price.

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

Affiliated Managers Group Trading Down 0.2%

NYSE:AMG traded down $0.80 on Tuesday, reaching $367.33. 29,448 shares of the stock traded hands, compared to its average volume of 342,956. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 0.51 and a beta of 1.10. The company’s 50 day moving average is $362.83 and its 200-day moving average is $330.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group has a 1-year low of $230.10 and a 1-year high of $392.92.

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

Hedge Funds Weigh In On Affiliated Managers Group

A number of large investors have recently modified their holdings of AMG. N.E.W. Advisory Services LLC bought a new position in shares of Affiliated Managers Group in the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group in the 4th quarter worth $42,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Affiliated Managers Group in the 2nd quarter worth $48,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Affiliated Managers Group by 45.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after purchasing an additional 56 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Affiliated Managers Group in the 2nd quarter worth $61,000. 95.30% of the stock is currently owned by institutional investors.

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.