Affiliated Managers Group Inc. (AMG) Price Target Lowered to $193.00 at Jefferies Group
Affiliated Managers Group Inc. (NYSE:AMG) had its target price decreased by Jefferies Group from $195.00 to $193.00 in a research note issued to investors on Tuesday. Jefferies Group currently has a buy rating on the stock.
Several other equities research analysts also recently issued reports on AMG. Deutsche Bank AG lifted their target price on Affiliated Managers Group from $186.00 to $188.00 and gave the stock a buy rating in a research report on Wednesday, October 5th. Zacks Investment Research raised Affiliated Managers Group from a sell rating to a hold rating in a research report on Friday, September 9th. TheStreet downgraded Affiliated Managers Group from a buy rating to a hold rating in a research report on Friday, June 24th. Finally, Keefe, Bruyette & Woods decreased their target price on Affiliated Managers Group from $215.00 to $196.00 and set an outperform rating on the stock in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $179.75.
Affiliated Managers Group (NYSE:AMG) traded up 0.17% during mid-day trading on Tuesday, reaching $146.89. The company had a trading volume of 181,858 shares. The company’s 50 day moving average is $144.93 and its 200 day moving average is $153.47. Affiliated Managers Group has a 52-week low of $115.97 and a 52-week high of $190.74. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 17.08 and a beta of 1.56.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, August 1st. The company reported $3.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.05. The company had revenue of $646.60 million for the quarter, compared to the consensus estimate of $565.16 million. Affiliated Managers Group had a return on equity of 18.39% and a net margin of 20.47%. The firm’s revenue was down 14.3% compared to the same quarter last year. During the same period last year, the business posted $3.08 earnings per share. Equities analysts predict that Affiliated Managers Group will post $12.85 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Affiliated Managers Group by 1.7% in the second quarter. Vanguard Group Inc. now owns 4,739,377 shares of the company’s stock worth $667,161,000 after buying an additional 78,317 shares during the period. Atlanta Capital Management Co. L L C boosted its position in Affiliated Managers Group by 7.5% in the second quarter. Atlanta Capital Management Co. L L C now owns 1,844,648 shares of the company’s stock worth $259,672,000 after buying an additional 129,121 shares during the period. JPMorgan Chase & Co. boosted its position in Affiliated Managers Group by 0.3% in the second quarter. JPMorgan Chase & Co. now owns 1,216,199 shares of the company’s stock worth $171,204,000 after buying an additional 3,307 shares during the period. BlackRock Fund Advisors boosted its position in Affiliated Managers Group by 2.2% in the second quarter. BlackRock Fund Advisors now owns 867,660 shares of the company’s stock worth $122,140,000 after buying an additional 19,065 shares during the period. Finally, Jackson Square Partners LLC boosted its position in Affiliated Managers Group by 14.8% in the first quarter. Jackson Square Partners LLC now owns 742,972 shares of the company’s stock worth $120,658,000 after buying an additional 95,592 shares during the period.
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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