Credit Suisse Group downgraded shares of Affiliated Managers Group (NYSE:AMG) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat reports. Credit Suisse Group currently has $220.00 target price on the asset manager’s stock.
A number of other research analysts have also issued reports on AMG. Zacks Investment Research upgraded Affiliated Managers Group from a hold rating to a buy rating and set a $230.00 target price on the stock in a research report on Tuesday. Barrington Research reiterated an outperform rating and set a $215.00 target price on shares of Affiliated Managers Group in a research report on Wednesday, October 4th. They noted that the move was a valuation call. Jefferies Group reiterated a buy rating and set a $226.00 target price on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $229.00 target price on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $211.71.
Affiliated Managers Group (NYSE:AMG) opened at $199.47 on Wednesday. Affiliated Managers Group has a 52-week low of $139.52 and a 52-week high of $207.67. The stock has a market capitalization of $11,090.00, a P/E ratio of 21.59, a PEG ratio of 0.83 and a beta of 1.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.61.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The firm had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. During the same quarter last year, the firm posted $3.02 EPS. The business’s revenue was up 7.5% on a year-over-year basis. analysts expect that Affiliated Managers Group will post 14.47 earnings per share for the current fiscal year.
In other Affiliated Managers Group news, insider Peter W. Macewen sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total value of $1,976,700.00. Following the transaction, the insider now owns 37,682 shares in the company, valued at approximately $7,448,600.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sean M. Healey sold 69,800 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $185.48, for a total value of $12,946,504.00. Following the completion of the transaction, the chief executive officer now owns 194,943 shares in the company, valued at approximately $36,158,027.64. The disclosure for this sale can be found here. Insiders sold a total of 89,585 shares of company stock worth $16,734,012 in the last 90 days. 1.40% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Tributary Capital Management LLC purchased a new position in shares of Affiliated Managers Group during the 3rd quarter worth $100,000. Advisor Group Inc. raised its holdings in shares of Affiliated Managers Group by 46.2% during the 2nd quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after acquiring an additional 228 shares during the period. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Affiliated Managers Group by 2.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after acquiring an additional 16 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Affiliated Managers Group by 7.9% during the 2nd quarter. Pacer Advisors Inc. now owns 1,183 shares of the asset manager’s stock worth $196,000 after acquiring an additional 87 shares during the period. Finally, Douglas Lane & Associates LLC purchased a new position in shares of Affiliated Managers Group during the 3rd quarter worth $200,000. Institutional investors own 95.65% of the company’s stock.
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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.
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