Affiliated Managers Group (NYSE:AMG) Price Target Raised to $215.00

Affiliated Managers Group (NYSE:AMG) had its price target upped by equities researchers at Barrington Research from $200.00 to $215.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Barrington Research’s target price would suggest a potential upside of 17.72% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $193.00 to $191.00 in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $198.40.

Affiliated Managers Group Price Performance

Shares of AMG stock traded up $0.21 during trading hours on Thursday, reaching $182.63. The stock had a trading volume of 301,818 shares, compared to its average volume of 197,672. The firm has a 50-day simple moving average of $185.34 and a 200-day simple moving average of $181.10. The firm has a market capitalization of $5.52 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15. Affiliated Managers Group has a twelve month low of $147.13 and a twelve month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. On average, equities analysts anticipate that Affiliated Managers Group will post 20.9 earnings per share for the current year.

Hedge Funds Weigh In On Affiliated Managers Group

Several hedge funds have recently made changes to their positions in AMG. Raymond James Financial Inc. acquired a new position in Affiliated Managers Group in the fourth quarter worth approximately $28,818,000. Proficio Capital Partners LLC bought a new stake in shares of Affiliated Managers Group during the 4th quarter worth $4,377,000. Assetmark Inc. grew its holdings in shares of Affiliated Managers Group by 0.7% in the 4th quarter. Assetmark Inc. now owns 28,717 shares of the asset manager’s stock worth $5,310,000 after acquiring an additional 209 shares during the last quarter. Carrera Capital Advisors acquired a new position in shares of Affiliated Managers Group in the 4th quarter worth $1,100,000. Finally, Victory Capital Management Inc. raised its position in shares of Affiliated Managers Group by 4.8% during the fourth quarter. Victory Capital Management Inc. now owns 118,627 shares of the asset manager’s stock worth $21,937,000 after purchasing an additional 5,436 shares during the period. Institutional investors and hedge funds 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.