Affiliated Managers Group, Inc. (AMG) Stock Rating Reaffirmed by Jefferies Group LLC

Affiliated Managers Group, Inc. (NYSE:AMG)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a research report issued to clients and investors on Thursday. They currently have a $226.00 price target on the asset manager’s stock. Jefferies Group LLC’s price objective would suggest a potential upside of 16.16% from the company’s current price. 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 and FY2019 earnings at $17.29 EPS.

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $229.00 target price on shares of Affiliated Managers Group in a research note on Thursday. Zacks Investment Research lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Barrington Research reiterated an “outperform” rating and set a $215.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Credit Suisse Group boosted their target price on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Finally, BidaskClub lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $207.25.

Shares of Affiliated Managers Group (AMG) opened at 194.56 on Thursday. The stock has a market capitalization of $10.89 billion, a P/E ratio of 21.55 and a beta of 1.66. The firm has a 50-day moving average price of $182.76 and a 200-day moving average price of $170.02. Affiliated Managers Group has a 52-week low of $130.48 and a 52-week high of $196.77.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.09. The business had revenue of $570.90 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.07 EPS. On average, analysts predict that Affiliated Managers Group will post $14.48 EPS for the current year.

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Several large investors have recently bought and sold shares of the company. Perpetual Ltd purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter worth $9,620,000. Sentry Investment Management LLC increased its stake in shares of Affiliated Managers Group by 139.5% in the 2nd quarter. Sentry Investment Management LLC now owns 4,323 shares of the asset manager’s stock worth $717,000 after purchasing an additional 2,518 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of Affiliated Managers Group by 746.7% in the 2nd quarter. Toronto Dominion Bank now owns 19,175 shares of the asset manager’s stock worth $3,180,000 after purchasing an additional 22,140 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of Affiliated Managers Group by 192.9% in the 2nd quarter. Scotia Capital Inc. now owns 12,751 shares of the asset manager’s stock worth $2,115,000 after purchasing an additional 8,397 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter worth $712,000. Hedge funds and other institutional investors own 96.27% of the company’s stock.

Affiliated Managers Group Company Profile

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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