Affiliated Managers Group, Inc. (NYSE:AMG) Given Consensus Recommendation of “Hold” by Analysts

Affiliated Managers Group, Inc. (NYSE:AMG) has earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $107.31.

A number of equities analysts recently issued reports on the company. Barrington Research decreased their price objective on Affiliated Managers Group from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Bank of America lowered Affiliated Managers Group from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $97.00 to $85.00 in a report on Tuesday, July 30th. Finally, Citigroup decreased their price objective on Affiliated Managers Group from $101.00 to $98.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th.

AMG stock traded down $3.68 on Thursday, reaching $79.67. The company’s stock had a trading volume of 395,587 shares, compared to its average volume of 539,368. Affiliated Managers Group has a 52 week low of $73.90 and a 52 week high of $139.43. The company has a market capitalization of $4.20 billion, a P/E ratio of 5.49, a price-to-earnings-growth ratio of 0.61 and a beta of 1.64. The firm has a fifty day moving average of $80.39 and a two-hundred day moving average of $92.01.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, July 29th. The asset manager reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.14. Affiliated Managers Group had a positive return on equity of 17.68% and a negative net margin of 5.19%. The business had revenue of $591.90 million during the quarter, compared to analyst estimates of $540.89 million. During the same period in the prior year, the company posted $3.61 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts anticipate that Affiliated Managers Group will post 13.55 earnings per share for the current fiscal year.

In other news, Director Samuel T. Byrne purchased 6,589 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $88.77 per share, with a total value of $584,905.53. Following the purchase, the director now owns 19,082 shares in the company, valued at approximately $1,693,909.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nathaniel Dalton sold 23,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $76.86, for a total value of $1,767,780.00. Following the transaction, the director now directly owns 208,346 shares of the company’s stock, valued at $16,013,473.56. The disclosure for this sale can be found here. Company insiders own 1.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ossiam bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth $48,000. Rampart Investment Management Company LLC boosted its stake in shares of Affiliated Managers Group by 39.6% during the 2nd quarter. Rampart Investment Management Company LLC now owns 666 shares of the asset manager’s stock worth $61,000 after acquiring an additional 189 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth $74,000. CSat Investment Advisory L.P. boosted its stake in shares of Affiliated Managers Group by 64.5% during the 2nd quarter. CSat Investment Advisory L.P. now owns 847 shares of the asset manager’s stock worth $78,000 after acquiring an additional 332 shares in the last quarter. Finally, ETF Managers Group LLC bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth $151,000. 94.73% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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