Affiliated Managers Group (NYSE:AMG) PT Raised to $201.00

Affiliated Managers Group (NYSE:AMG) had its price objective raised by equities researchers at Bank of America from $200.00 to $201.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. Bank of America‘s target price suggests a potential upside of 10.08% from the stock’s previous close.

Several other equities analysts have also issued reports on AMG. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affiliated Managers Group from $188.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday. Barrington Research upped their price target on Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, TD Cowen upped their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.20.

Affiliated Managers Group Stock Performance

NYSE AMG traded down $1.31 during trading on Tuesday, hitting $182.59. The stock had a trading volume of 102,185 shares, compared to its average volume of 265,015. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 0.62 and a beta of 1.22. Affiliated Managers Group has a one year low of $120.22 and a one year high of $187.29. The stock has a 50 day simple moving average of $160.64 and a 200 day simple moving average of $159.08.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.60 by $0.07. The business had revenue of $500.30 million during the quarter, compared to the consensus estimate of $518.03 million. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.45 earnings per share. On average, sell-side analysts predict that Affiliated Managers Group will post 21.59 EPS for the current year.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. purchased a new position in Affiliated Managers Group in the 4th quarter valued at approximately $260,000. Pacer Advisors Inc. boosted its position in Affiliated Managers Group by 22.3% in the 4th quarter. Pacer Advisors Inc. now owns 5,082 shares of the asset manager’s stock valued at $770,000 after buying an additional 928 shares during the period. Blue Trust Inc. boosted its position in Affiliated Managers Group by 17.1% in the 4th quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after buying an additional 90 shares during the period. Integrated Investment Consultants LLC purchased a new position in Affiliated Managers Group in the 4th quarter valued at approximately $204,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Affiliated Managers Group in the 4th quarter valued at approximately $590,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.