Affiliated Managers Group (NYSE:AMG) Downgraded by The Goldman Sachs Group to “Neutral”

Affiliated Managers Group (NYSE:AMG) was downgraded by equities researchers at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat reports. They currently have a $191.00 target price on the asset manager’s stock, down from their prior target price of $193.00. The Goldman Sachs Group’s price objective indicates a potential upside of 5.88% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Barrington Research dropped their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $226.00 to $177.00 in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $195.40.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $180.40 on Monday. The stock has a fifty day moving average price of $186.07 and a two-hundred day moving average price of $177.71. Affiliated Managers Group has a 52-week low of $145.36 and a 52-week high of $199.52. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.08 earnings per share. As a group, research analysts predict that Affiliated Managers Group will post 20.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in shares of Affiliated Managers Group during the second quarter worth approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in Affiliated Managers Group in the third quarter valued at about $30,000. UMB Bank n.a. boosted its stake in shares of Affiliated Managers Group by 481.3% in the 3rd quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 154 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Affiliated Managers Group during the third quarter worth $46,000. Finally, Daiwa Securities Group Inc. bought a new stake in Affiliated Managers Group during the 2nd quarter worth $47,000. 95.30% of the stock is currently owned by institutional investors.

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.