Affiliated Managers Group (NYSE:AMG) was downgraded by research analysts at Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Tuesday, January 9th, MarketBeat.com reports. They currently have a $216.00 price target on the asset manager’s stock. Goldman Sachs Group’s target price points to a potential upside of 4.01% from the company’s current price.
Several other brokerages have also issued reports on AMG. Keefe, Bruyette & Woods restated a “buy” rating and set a $229.00 target price on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $213.00 price target for the company in a report on Monday, October 2nd. Jefferies Group reiterated a “buy” rating and issued a $226.00 price target on shares of Affiliated Managers Group in a report on Thursday, October 12th. Credit Suisse Group lowered Affiliated Managers Group from an “outperform” rating to a “neutral” rating and set a $220.00 price target for the company. in a report on Wednesday, January 3rd. Finally, Barrington Research reiterated an “outperform” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $211.00.
Affiliated Managers Group (AMG) traded up $4.67 during trading hours on Tuesday, reaching $207.68. The company’s stock had a trading volume of 331,111 shares, compared to its average volume of 296,327. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $11,320.00, a PE ratio of 22.48, a PEG ratio of 0.73 and a beta of 1.71. Affiliated Managers Group has a twelve month low of $139.52 and a twelve month high of $208.50.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.36 by $0.05. The firm had revenue of $585.70 million for the quarter, compared to analysts’ expectations of $586.55 million. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.02 earnings per share. research analysts forecast that Affiliated Managers Group will post 14.48 EPS for the current year.
In other news, CEO Sean M. Healey sold 69,800 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the sale, the chief executive officer now directly owns 194,943 shares of the company’s stock, valued at $36,158,027.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight D. Churchill sold 2,080 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $184.28, for a total transaction of $383,302.40. Following the completion of the sale, the director now directly owns 6,104 shares in the company, valued at $1,124,845.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,585 shares of company stock worth $16,734,012. Insiders own 1.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its holdings in Affiliated Managers Group by 8.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 283,172 shares of the asset manager’s stock valued at $58,122,000 after purchasing an additional 22,302 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in Affiliated Managers Group by 1.1% in the fourth quarter. Gateway Investment Advisers LLC now owns 74,907 shares of the asset manager’s stock valued at $15,375,000 after purchasing an additional 832 shares during the last quarter. National Pension Service boosted its holdings in Affiliated Managers Group by 27,595.1% in the fourth quarter. National Pension Service now owns 67,853 shares of the asset manager’s stock valued at $13,927,000 after purchasing an additional 67,608 shares during the last quarter. Bank of Montreal Can boosted its holdings in Affiliated Managers Group by 104.0% in the fourth quarter. Bank of Montreal Can now owns 77,044 shares of the asset manager’s stock valued at $15,813,000 after purchasing an additional 39,272 shares during the last quarter. Finally, Gofen & Glossberg LLC IL purchased a new stake in Affiliated Managers Group in the fourth quarter valued at $206,000. 95.52% of the stock is currently owned by institutional investors.
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About Affiliated Managers Group
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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