Credit Suisse Group AG Analysts Give Affiliated Managers Group Inc. (AMG) a $212.00 Price Target
Several other research firms have also issued reports on AMG. Zacks Investment Research lowered shares of Affiliated Managers Group from a hold rating to a sell rating in a research note on Tuesday, September 20th. Keefe, Bruyette & Woods reduced their target price on shares of Affiliated Managers Group from $215.00 to $196.00 and set an outperform rating for the company in a research note on Tuesday, August 2nd. TheStreet lowered shares of Affiliated Managers Group from a buy rating to a hold rating in a research note on Friday, June 24th. Jefferies Group reiterated a buy rating on shares of Affiliated Managers Group in a research note on Thursday, August 11th. Finally, Deutsche Bank AG upped their target price on shares of Affiliated Managers Group from $184.00 to $191.00 and gave the stock a buy rating in a research note on Friday, September 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $180.55.
Shares of Affiliated Managers Group (NYSE:AMG) opened at 144.70 on Wednesday. The firm has a market cap of $7.80 billion, a PE ratio of 16.83 and a beta of 1.56. Affiliated Managers Group has a 1-year low of $115.97 and a 1-year high of $190.74. The stock’s 50 day moving average is $143.29 and its 200-day moving average is $153.87.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, August 1st. The company reported $3.06 EPS for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.05. The business earned $646.60 million during the quarter, compared to analyst estimates of $565.16 million. Affiliated Managers Group had a net margin of 20.47% and a return on equity of 18.39%. Affiliated Managers Group’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.08 EPS. Analysts expect that Affiliated Managers Group will post $12.86 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Rafferty Asset Management LLC increased its stake in Affiliated Managers Group by 49.0% in the first quarter. Rafferty Asset Management LLC now owns 7,214 shares of the company’s stock valued at $1,172,000 after buying an additional 2,373 shares during the period. BB&T Securities LLC acquired a new stake in Affiliated Managers Group during the first quarter valued at approximately $5,241,000. Canada Pension Plan Investment Board acquired a new stake in Affiliated Managers Group during the first quarter valued at approximately $5,524,000. Aviva PLC increased its stake in Affiliated Managers Group by 1.5% in the first quarter. Aviva PLC now owns 27,144 shares of the company’s stock valued at $4,408,000 after buying an additional 392 shares during the period. Finally, M&T Bank Corp increased its stake in Affiliated Managers Group by 17.7% in the first quarter. M&T Bank Corp now owns 13,023 shares of the company’s stock valued at $2,114,000 after buying an additional 1,961 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.
Affiliated Managers Group Company Profile
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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