Wall Street Zen Upgrades Affiliated Managers Group (NYSE:AMG) to Buy

Affiliated Managers Group (NYSE:AMG) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other brokerages have also recently commented on AMG. Barrington Research lifted their price target on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and set a $282.00 price target on shares of Affiliated Managers Group in a report on Tuesday, November 4th. UBS Group set a $295.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Bank of America upped their price objective on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $328.67.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $287.33 on Friday. The firm has a market cap of $8.08 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $258.18 and its 200-day moving average is $230.61. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $287.86.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping the consensus estimate of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The business had revenue of $528.00 million during the quarter, compared to the consensus estimate of $543.39 million. During the same quarter last year, the company earned $4.82 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Institutional Investors Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss Life Asset Management Ltd purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at $321,000. Danske Bank A S purchased a new position in shares of Affiliated Managers Group in the third quarter worth $3,218,000. Advisory Services Network LLC lifted its holdings in shares of Affiliated Managers Group by 8.5% during the third quarter. Advisory Services Network LLC now owns 3,848 shares of the asset manager’s stock valued at $917,000 after purchasing an additional 301 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Affiliated Managers Group by 2.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,050 shares of the asset manager’s stock valued at $6,926,000 after buying an additional 800 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in Affiliated Managers Group by 1.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 25,136 shares of the asset manager’s stock worth $5,993,000 after buying an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.