Affiliated Managers Group (NYSE:AMG) Given New $495.00 Price Target at TD Cowen

Affiliated Managers Group (NYSE:AMG) had its price target raised by equities researchers at TD Cowen from $485.00 to $495.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target would indicate a potential upside of 58.25% from the company’s previous close.

AMG has been the topic of several other reports. The Goldman Sachs Group raised their target price on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Jefferies Financial Group reiterated a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Bank of America upped their price objective on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.50.

Affiliated Managers Group Price Performance

NYSE AMG traded up $1.95 during trading on Wednesday, hitting $312.79. 68,279 shares of the stock traded hands, compared to its average volume of 358,104. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $313.55. The company has a market capitalization of $8.80 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 0.58 and a beta of 1.19. The firm has a 50-day simple moving average of $276.74 and a 200-day simple moving average of $243.36. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, topping the consensus estimate of $5.88 by $0.22. The company had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a net margin of 26.01% and a return on equity of 16.75%. Affiliated Managers Group’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.82 earnings per share. As a group, analysts predict that Affiliated Managers Group will post 22.86 EPS for the current year.

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds and other institutional investors have recently modified their holdings of AMG. Exchange Traded Concepts LLC acquired a new position in Affiliated Managers Group in the fourth quarter valued at $238,000. Kathmere Capital Management LLC bought a new position in Affiliated Managers Group in the 4th quarter worth about $584,000. Fulton Bank N.A. bought a new position in Affiliated Managers Group during the fourth quarter valued at about $364,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Affiliated Managers Group by 42.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,607 shares of the asset manager’s stock worth $1,119,000 after buying an additional 1,073 shares during the period. Finally, Oliver Luxxe Assets LLC raised its position in Affiliated Managers Group by 64.2% during the fourth quarter. Oliver Luxxe Assets LLC now owns 18,407 shares of the asset manager’s stock valued at $5,306,000 after buying an additional 7,197 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.