Affiliated Managers Group Inc. (AMG) Trading Down 2%
Shares of Affiliated Managers Group Inc. (NYSE:AMG) dropped 2% on Thursday . The company traded as low as $138.26 and last traded at $139.26, with a volume of 204,241 shares trading hands. The stock had previously closed at $142.05.
AMG has been the topic of a number of recent research reports. ABN Amro upgraded shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Monday, May 9th. Sidoti lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $46.00 price target on the stock. in a report on Friday, May 13th. Deutsche Bank AG reiterated a “buy” rating and set a $203.00 price target on shares of Affiliated Managers Group in a report on Sunday, June 5th. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $238.00 price target on shares of Affiliated Managers Group in a report on Wednesday, June 8th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $182.18.
The company has a market capitalization of $7.57 billion and a PE ratio of 16.33. The firm’s 50 day moving average is $143.64 and its 200-day moving average is $153.30.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, August 1st. The company reported $3.06 EPS for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.05. The company earned $646.60 million during the quarter, compared to the consensus estimate of $565.16 million. Affiliated Managers Group’s quarterly revenue was down 14.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.08 EPS. On average, analysts predict that Affiliated Managers Group Inc. will post $12.86 EPS for the current year.
A hedge fund recently raised its stake in Affiliated Managers Group stock. Principal Financial Group Inc. increased its position in Affiliated Managers Group Inc. (NYSE:AMG) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,219 shares of the company’s stock after buying an additional 1,083 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Affiliated Managers Group worth $12,496,000 at the end of the most recent 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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