Affiliated Managers Group Inc. (AMG) Trading Down 2%
Shares of Affiliated Managers Group Inc. (NYSE:AMG) fell 2% during trading on Thursday . The stock traded as low as $138.26 and last traded at $139.26, with a volume of 204,241 shares traded. The stock had previously closed at $142.05.
Several brokerages have commented on AMG. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Thursday. Jefferies Group reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Thursday, August 11th. Deutsche Bank AG lowered their price objective on shares of Affiliated Managers Group from $192.00 to $183.00 and set a “buy” rating on the stock in a research report on Friday, August 5th. Keefe, Bruyette & Woods lowered their price objective on shares of 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. Finally, TheStreet lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $182.18.
The company’s 50-day moving average is $143.74 and its 200 day moving average is $153.40. The stock has a market capitalization of $7.53 billion and a P/E ratio of 16.26.
Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data 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. During the same period last year, the company posted $3.08 earnings per share. The firm had revenue of $646.60 million for the quarter, compared to analysts’ expectations of $565.16 million. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. Equities analysts forecast 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 shares of Affiliated Managers Group Inc. (NYSE:AMG) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 78,219 shares of the company’s stock after buying an additional 1,083 shares during the period. Principal Financial Group Inc. owned 0.15% of Affiliated Managers Group worth $12,496,000 as of its most recent filing with the SEC.
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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