Affiliated Managers Group (NYSE:AMG) was upgraded by investment analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Friday, The Fly reports.
AMG has been the topic of several other research reports. Barrington Research restated an “outperform” rating and issued a $215.00 target price on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $230.00 target price on the stock in a report on Tuesday, January 2nd. Credit Suisse Group restated a “hold” rating and issued a $215.00 target price on shares of Affiliated Managers Group in a report on Friday, January 12th. Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 target price on the stock. in a report on Tuesday, January 9th. Finally, Jefferies Group restated a “buy” rating and issued a $226.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Affiliated Managers Group presently has an average rating of “Buy” and a consensus target price of $211.00.
Shares of Affiliated Managers Group (NYSE:AMG) traded down $2.36 during mid-day trading on Friday, reaching $205.32. 216,500 shares of the company traded hands, compared to its average volume of 289,675. Affiliated Managers Group has a 52 week low of $140.75 and a 52 week high of $208.50. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $11,543.25, a PE ratio of 22.22, a P/E/G ratio of 0.74 and a beta of 1.71.
In other Affiliated Managers Group news, CEO Sean M. Healey sold 69,800 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $185.48, for a total value of $12,946,504.00. Following the transaction, the chief executive officer now directly owns 194,943 shares in the company, valued at $36,158,027.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Peter W. Macewen sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the completion of the transaction, the insider now owns 37,682 shares in the company, valued at $7,448,600.94. The disclosure for this sale can be found here. Insiders sold 89,585 shares of company stock worth $16,734,012 over the last quarter. Insiders own 1.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Tributary Capital Management LLC bought a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at $100,000. Advisor Group Inc. raised its position in shares of Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock valued at $120,000 after purchasing an additional 228 shares during the period. Douglas Lane & Associates LLC bought a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at $200,000. Conning Inc. bought a new stake in shares of Affiliated Managers Group during the 3rd quarter valued at $203,000. Finally, Gofen & Glossberg LLC IL bought a new stake in shares of Affiliated Managers Group during the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 95.52% of the company’s stock.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.
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