Affiliated Managers Group (NYSE:AMG) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

AMG has been the subject of several other research reports. Jefferies Financial Group restated a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. TD Cowen upped their target price on Affiliated Managers Group to $485.00 and gave the company a “buy” rating in a report on Monday, December 15th. Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Barrington Research increased their price target on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group boosted their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $338.83.

Affiliated Managers Group Stock Performance

AMG stock opened at $307.93 on Friday. The firm has a market cap of $8.66 billion, a P/E ratio of 18.34, a P/E/G ratio of 0.57 and a beta of 1.19. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $311.51. The stock’s 50 day simple moving average is $274.46 and its 200 day simple moving average is $241.35. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.88 by $0.22. The company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.82 earnings per share. As a group, equities research analysts predict that Affiliated Managers Group will post 22.86 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Thursday, November 13th. Affiliated Managers Group’s dividend payout ratio (DPR) is currently 0.24%.

Institutional Investors Weigh In On Affiliated Managers Group

Large investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Affiliated Managers Group in the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. bought a new position in shares of Affiliated Managers Group during the third quarter worth $34,000. Hantz Financial Services Inc. lifted its holdings in Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after acquiring an additional 93 shares in the last quarter. Finally, Millstone Evans Group LLC lifted its holdings in shares of Affiliated Managers Group by 41.9% during the 3rd quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock valued at $42,000 after purchasing an additional 52 shares in the last quarter. 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 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.