Affiliated Managers Group (NYSE:AMG) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued to investors on Monday.
AMG has been the topic of several other reports. ValuEngine lowered shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Keefe, Bruyette & Woods lowered shares of Affiliated Managers Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $250.00 to $206.00 in a research report on Wednesday, April 11th. Deutsche Bank raised their price target on shares of Affiliated Managers Group from $213.00 to $215.00 and gave the stock a “buy” rating in a research report on Friday, April 6th. Jefferies Financial Group restated a “buy” rating and issued a $226.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, April 11th. Finally, Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $215.00.
Shares of Affiliated Managers Group opened at $151.72 on Monday, according to Marketbeat.com. The firm has a market capitalization of $8.34 billion, a P/E ratio of 10.39, a PEG ratio of 0.69 and a beta of 1.50. Affiliated Managers Group has a one year low of $150.55 and a one year high of $216.99. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.42.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Monday, April 30th. The asset manager reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.03. The company had revenue of $612.40 million for the quarter, compared to analyst estimates of $586.44 million. Affiliated Managers Group had a net margin of 30.34% and a return on equity of 19.27%. The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the business posted $3.21 EPS. research analysts expect that Affiliated Managers Group will post 16.47 EPS for the current fiscal year.
In other news, Director Dwight D. Churchill sold 1,981 shares of Affiliated Managers Group stock in a transaction dated Wednesday, June 6th. The shares were sold at an average price of $166.28, for a total transaction of $329,400.68. Following the sale, the director now directly owns 6,469 shares in the company, valued at approximately $1,075,665.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.91% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of AMG. Optimum Investment Advisors acquired a new stake in shares of Affiliated Managers Group during the 1st quarter valued at about $104,000. ClariVest Asset Management LLC acquired a new stake in shares of Affiliated Managers Group during the 1st quarter valued at about $175,000. Koch Industries Inc. acquired a new stake in shares of Affiliated Managers Group during the 1st quarter valued at about $209,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Affiliated Managers Group during the 1st quarter valued at about $217,000. Finally, IBM Retirement Fund acquired a new stake in shares of Affiliated Managers Group during the 1st quarter valued at about $231,000. Institutional investors and hedge funds own 94.51% of the company’s stock.
About Affiliated Managers Group
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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