Affiliated Managers Group Inc. (NYSE:AMG) had its price target lowered by Jefferies Group from $195.00 to $193.00 in a research report released on Tuesday. The firm currently has a buy rating on the stock.
Several other equities research analysts have also issued reports on the stock. Deutsche Bank AG lifted their target price on shares of Affiliated Managers Group from $186.00 to $188.00 and gave the company a buy rating in a research report on Wednesday, October 5th. Zacks Investment Research upgraded shares of Affiliated Managers Group from a sell rating to a buy rating and set a $164.00 target price for the company in a research report on Tuesday, October 4th. Credit Suisse Group AG reiterated an outperform rating and set a $212.00 target price on shares of Affiliated Managers Group in a research report on Thursday, September 8th. Finally, Capital One Financial Corp. reiterated a buy rating and set a $188.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, October 5th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $179.75.
Shares of Affiliated Managers Group (NYSE:AMG) opened at 142.63 on Tuesday. Affiliated Managers Group has a 52-week low of $115.97 and a 52-week high of $190.74. The stock’s 50 day moving average is $145.04 and its 200 day moving average is $153.34. The firm has a market capitalization of $7.68 billion, a PE ratio of 16.59 and a beta of 1.56.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, August 1st. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $3.01 by $0.05. The company earned $646.60 million during the quarter, compared to analysts’ expectations of $565.16 million. Affiliated Managers Group had a net margin of 20.47% and a return on equity of 18.39%. Affiliated Managers Group’s revenue for the quarter was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.08 earnings per share. On average, equities research analysts forecast that Affiliated Managers Group will post $12.85 EPS for the current year.
A number of large investors have recently bought and sold shares of the stock. Commonwealth Equity Services Inc purchased a new stake in Affiliated Managers Group during the first quarter worth approximately $449,000. NN Investment Partners Holdings N.V. purchased a new stake in Affiliated Managers Group during the first quarter worth approximately $1,343,000. Bessemer Group Inc. purchased a new stake in Affiliated Managers Group during the first quarter worth approximately $222,000. Royce & Associates LP raised its stake in Affiliated Managers Group by 169.0% in the first quarter. Royce & Associates LP now owns 8,730 shares of the company’s stock worth $1,418,000 after buying an additional 5,485 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Affiliated Managers Group by 17.7% in the first quarter. M&T Bank Corp now owns 13,023 shares of the company’s stock worth $2,114,000 after buying an additional 1,961 shares in the last quarter.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.
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