Affiliated Managers Group (NYSE:AMG) Price Target Raised to $485.00

Affiliated Managers Group (NYSE:AMG) had its price objective increased by TD Cowen to $485.00 in a research note published on Monday,Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

A number of other research analysts have also recently issued reports on AMG. The Goldman Sachs Group lifted their target price on Affiliated Managers Group from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, October 6th. Bank of America lifted their price target on shares of Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Barrington Research upped their price objective on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $328.67.

Affiliated Managers Group Stock Down 0.8%

NYSE AMG opened at $270.90 on Monday. The business has a fifty day moving average price of $255.55 and a two-hundred day moving average price of $228.15. The stock has a market capitalization of $7.62 billion, a PE ratio of 16.13, a PEG ratio of 0.61 and a beta of 1.22. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $283.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. During the same quarter last year, the company posted $4.82 EPS. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities analysts expect that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Thursday, November 13th. Affiliated Managers Group’s payout ratio is presently 0.24%.

Hedge Funds Weigh In On Affiliated Managers Group

Several large investors have recently modified their holdings of AMG. Voya Investment Management LLC grew its position in shares of Affiliated Managers Group by 52.2% in the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock valued at $4,823,000 after buying an additional 9,845 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Affiliated Managers Group by 79.4% during the second quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock worth $118,000 after acquiring an additional 266 shares during the last quarter. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Affiliated Managers Group in the second quarter worth approximately $226,000. First Trust Advisors LP boosted its holdings in Affiliated Managers Group by 18.1% in the second quarter. First Trust Advisors LP now owns 234,679 shares of the asset manager’s stock valued at $46,178,000 after acquiring an additional 36,045 shares during the last quarter. Finally, QRG Capital Management Inc. bought a new stake in Affiliated Managers Group in the second quarter valued at approximately $269,000. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.