Affiliated Managers Group Inc. (NYSE:AMG)’s share price gapped up prior to trading on Friday . The stock had previously closed at $133.15, but opened at $134.36. Affiliated Managers Group shares last traded at $137.96, with a volume of 470,066 shares changing hands.

Several research firms have weighed in on AMG. Deutsche Bank AG lifted their target price on Affiliated Managers Group from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Saturday, March 12th. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $176.00 target price for the company in a research report on Monday, April 11th. Goldman Sachs Group Inc. raised Affiliated Managers Group from a “buy” rating to a “conviction-buy” rating and lifted their target price for the company from $175.00 to $190.00 in a research report on Monday, March 21st. Jefferies Group lifted their target price on Affiliated Managers Group to $197.00 in a research report on Tuesday, April 12th. Finally, TheStreet raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, April 8th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $191.25.

The firm has a market capitalization of $7.47 billion and a PE ratio of 15.55. The firm has a 50 day moving average of $156.13 and a 200-day moving average of $151.78.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Tuesday, May 3rd. The company reported $2.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.02. During the same quarter last year, the company posted $2.91 earnings per share. The business had revenue of $635 million for the quarter, compared to analysts’ expectations of $583.37 million. The business’s quarterly revenue was down 14.1% compared to the same quarter last year. On average, equities analysts forecast that Affiliated Managers Group Inc. will post $13.07 EPS for the current year.

Other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in Affiliated Managers Group by 4.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 7,190 shares of the company’s stock worth $1,149,000 after buying an additional 328 shares during the period. Marshall Wace LLP purchased a new position in Affiliated Managers Group during the fourth quarter worth approximately $1,291,000. Intrust Bank NA increased its position in Affiliated Managers Group by 42.2% in the fourth quarter. Intrust Bank NA now owns 8,688 shares of the company’s stock worth $1,388,000 after buying an additional 2,580 shares during the period. GAM Holding AG increased its position in Affiliated Managers Group by 633.4% in the fourth quarter. GAM Holding AG now owns 9,013 shares of the company’s stock worth $1,440,000 after buying an additional 7,784 shares during the period. Finally, MUFG Americas Holdings Corp increased its position in Affiliated Managers Group by 2.9% in the fourth quarter. MUFG Americas Holdings Corp now owns 10,860 shares of the company’s stock worth $1,735,000 after buying an additional 310 shares during the period.

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.

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