Affiliated Managers Group, Inc. (AMG) Earns Buy Rating from Jefferies Group LLC

Jefferies Group LLC reiterated their buy rating on shares of Affiliated Managers Group, Inc. (NYSE:AMG) in a report published on Thursday. They currently have a $226.00 price target on the asset manager’s stock. Jefferies Group also issued estimates for Affiliated Managers Group’s Q3 2017 earnings at $3.36 EPS, Q4 2017 earnings at $4.50 EPS, FY2017 earnings at $14.40 EPS, Q1 2018 earnings at $3.51 EPS, Q2 2018 earnings at $3.65 EPS, Q3 2018 earnings at $3.71 EPS, Q4 2018 earnings at $5.26 EPS, FY2018 earnings at $16.12 EPS and FY2019 earnings at $17.29 EPS.

Several other equities analysts also recently issued reports on AMG. ValuEngine raised shares of Affiliated Managers Group from a hold rating to a buy rating in a report on Tuesday, June 27th. BidaskClub raised shares of Affiliated Managers Group from a hold rating to a buy rating in a report on Saturday, July 1st. Zacks Investment Research raised shares of Affiliated Managers Group from a hold rating to a buy rating and set a $186.00 price objective on the stock in a report on Tuesday, July 4th. Credit Suisse Group reaffirmed a buy rating and set a $207.00 price objective on shares of Affiliated Managers Group in a report on Sunday, July 9th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $215.00 price objective on shares of Affiliated Managers Group in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Affiliated Managers Group currently has a consensus rating of Buy and a consensus price target of $207.25.

Shares of Affiliated Managers Group (NYSE AMG) opened at 193.55 on Thursday. The firm has a 50-day moving average of $184.12 and a 200-day moving average of $170.49. Affiliated Managers Group has a one year low of $130.48 and a one year high of $196.77. The company has a market capitalization of $10.83 billion, a P/E ratio of 21.44 and a beta of 1.66.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.09. The business had revenue of $570.90 million for the quarter, compared to the consensus estimate of $573.73 million. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $3.07 earnings per share. Analysts forecast that Affiliated Managers Group will post $14.48 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of AMG. Creative Planning raised its position in shares of Affiliated Managers Group by 15.0% in the second quarter. Creative Planning now owns 705 shares of the asset manager’s stock valued at $117,000 after buying an additional 92 shares during the last quarter. Advisor Group Inc. raised its position in shares of Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock valued at $120,000 after buying an additional 228 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Affiliated Managers Group by 2.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock valued at $125,000 after buying an additional 16 shares during the last quarter. Financial Architects Inc raised its position in shares of Affiliated Managers Group by 2.1% in the second quarter. Financial Architects Inc now owns 833 shares of the asset manager’s stock valued at $138,000 after buying an additional 17 shares during the last quarter. Finally, FNY Partners Fund LP acquired a new stake in shares of Affiliated Managers Group in the first quarter valued at about $163,000. Institutional investors and hedge funds own 96.27% 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. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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