Shares of Affiliated Managers Group Inc. (NYSE:AMG) gapped up prior to trading on Thursday . The stock had previously closed at $142.55, but opened at $142.92. Affiliated Managers Group shares last traded at $145.09, with a volume of 286,545 shares.

A number of research firms have recently weighed in on AMG. Deutsche Bank AG increased their price objective on shares of Affiliated Managers Group from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 18th. Citigroup Inc. increased their price objective on shares of Affiliated Managers Group from $140.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, April 14th. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $176.00 price target for the company in a research report on Monday, April 11th. Credit Suisse Group AG reiterated a “buy” rating and set a $238.00 price target on shares of Affiliated Managers Group in a research report on Wednesday, June 8th. Finally, TheStreet upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, April 8th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $191.09.

The stock has a 50-day moving average price of $152.38 and a 200 day moving average price of $151.18. The stock has a market capitalization of $7.78 billion and a P/E ratio of 16.20.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Tuesday, May 3rd. The company reported $2.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.02. The firm earned $635 million during the quarter, compared to analysts’ expectations of $583.37 million. Affiliated Managers Group’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same quarter last year, the company posted $2.91 earnings per share. Analysts forecast that Affiliated Managers Group Inc. will post $12.93 EPS for the current fiscal year.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Affiliated Managers Group by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 4,550,660 shares of the company’s stock worth $727,014,000 after buying an additional 106,825 shares during the period. Jennison Associates LLC increased its position in Affiliated Managers Group by 35.6% in the fourth quarter. Jennison Associates LLC now owns 918,578 shares of the company’s stock worth $146,752,000 after buying an additional 241,042 shares in the last quarter. Morgan Stanley increased its position in Affiliated Managers Group by 119.8% in the fourth quarter. Morgan Stanley now owns 299,565 shares of the company’s stock worth $47,858,000 after buying an additional 163,296 shares in the last quarter. Winton Capital Group Ltd increased its position in Affiliated Managers Group by 321.9% in the fourth quarter. Winton Capital Group Ltd now owns 273,418 shares of the company’s stock worth $43,681,000 after buying an additional 208,617 shares in the last quarter. Finally, Bruni J V & Co. Co. increased its position in Affiliated Managers Group by 1.2% in the fourth quarter. Bruni J V & Co. Co. now owns 143,584 shares of the company’s stock worth $22,939,000 after buying an additional 1,711 shares in the last quarter.

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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