Affiliated Managers Group, Inc. (NYSE:AMG) Stock Has Average Price Target of $388.33 According to Analysts

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $388.33.

Several analysts recently issued reports on the stock. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a report on Friday, July 31st. Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. TD Cowen lifted their price target on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Finally, Weiss Ratings upgraded shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $395.24 on Friday. The firm has a 50 day simple moving average of $368.85 and a 200-day simple moving average of $343.73. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 13.69, a price-to-earnings-growth ratio of 0.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24. Affiliated Managers Group has a 1-year low of $235.04 and a 1-year high of $397.06.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating the consensus estimate of $7.90 by $0.39. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The firm had revenue of $640.70 million for the quarter, compared to analyst estimates of $590.94 million. During the same quarter in the previous year, the company earned $5.39 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts expect that Affiliated Managers Group will post 36.87 EPS for the current year.

Institutional Trading of Affiliated Managers Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Affiliated Managers Group during the second quarter worth $938,294,000. Bank of America Corp DE purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at $146,331,000. Bank of New York Mellon Corp purchased a new stake in shares of Affiliated Managers Group in the 2nd quarter valued at $95,418,000. Bruni J V & Co. Co. acquired a new position in Affiliated Managers Group during the 2nd quarter worth about $71,095,810. Finally, Kiltearn Partners LLP acquired a new position in Affiliated Managers Group during the 2nd quarter worth about $62,464,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.