Affiliated Managers Group Inc. (AMG) Price Target Increased to $188.00 by Analysts at Deutsche Bank AG
Affiliated Managers Group Inc. (NYSE:AMG) had its target price increased by Deutsche Bank AG from $186.00 to $188.00 in a report published on Wednesday, StockTargetPrices.com reports. Deutsche Bank AG currently has a buy rating on the stock.
Several other brokerages have also commented on AMG. Zacks Investment Research lowered Affiliated Managers Group from a buy rating to a hold rating in a research note on Tuesday, June 7th. Credit Suisse Group AG reissued a buy rating and issued a $238.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, June 8th. Keefe, Bruyette & Woods reduced their price objective on Affiliated Managers Group from $215.00 to $196.00 and set an outperform rating on the stock in a research note on Tuesday, August 2nd. Finally, Jefferies Group reissued a buy rating on shares of Affiliated Managers Group in a research note on Thursday, August 11th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $179.92.
Shares of Affiliated Managers Group (NYSE:AMG) traded up 0.52% during trading on Wednesday, reaching $153.58. The company had a trading volume of 173,859 shares. Affiliated Managers Group has a 52-week low of $115.97 and a 52-week high of $190.74. The firm has a market capitalization of $8.27 billion, a P/E ratio of 17.86 and a beta of 1.56. The company has a 50 day moving average of $143.81 and a 200-day moving average of $153.72.
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 Thomson Reuters’ consensus estimate of $3.01 by $0.05. The business had revenue of $646.60 million for the quarter, compared to analyst estimates of $565.16 million. Affiliated Managers Group had a return on equity of 18.39% and a net margin of 20.47%. 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 firm earned $3.08 EPS. Equities 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 AMG. Calvert Investment Management Inc. increased its stake in Affiliated Managers Group by 0.4% in the second quarter. Calvert Investment Management Inc. now owns 4,083 shares of the company’s stock worth $575,000 after buying an additional 18 shares in the last quarter. Pennsylvania Trust Co increased its stake in shares of Affiliated Managers Group by 1.1% in the second quarter. Pennsylvania Trust Co now owns 2,376 shares of the company’s stock valued at $334,000 after buying an additional 26 shares during the period. Ropes Wealth Advisors LLC increased its stake in shares of Affiliated Managers Group by 1.7% in the second quarter. Ropes Wealth Advisors LLC now owns 1,779 shares of the company’s stock valued at $250,000 after buying an additional 29 shares during the period. Ranger Investment Management L.P. increased its stake in shares of Affiliated Managers Group by 0.3% in the second quarter. Ranger Investment Management L.P. now owns 9,475 shares of the company’s stock valued at $1,334,000 after buying an additional 30 shares during the period. Finally, World Asset Management Inc increased its stake in shares of Affiliated Managers Group by 0.6% in the second quarter. World Asset Management Inc now owns 5,092 shares of the company’s stock valued at $717,000 after buying an additional 32 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.
About Affiliated Managers Group
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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