Affiliated Managers Group (NYSE:AMG) Price Target Raised to $295.00

by · The Cerbat Gem

Affiliated Managers Group (NYSE:AMG – Get Free Report) had its price target lifted by analysts at Barrington Research from $285.00 to $295.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Barrington Research’s price target would suggest a potential upside of 17.06% from the stock’s current price.

AMG has been the subject of several other research reports. Wall Street Zen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Jefferies Financial Group restated a “buy” rating and set a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Bank of America upped their price objective on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $275.83.

Read Our Latest Research Report on AMG

Affiliated Managers Group Price Performance

Shares of NYSE:AMG traded down $4.55 during trading on Tuesday, reaching $252.01. 84,957 shares of the company were exchanged, compared to its average volume of 223,237. The firm has a market capitalization of $7.16 billion, a PE ratio of 18.38, a P/E/G ratio of 0.61 and a beta of 1.21. The business’s fifty day simple moving average is $236.71 and its 200-day simple moving average is $207.77. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $256.81.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last issued its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, topping the consensus estimate of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.The business had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. During the same period in the prior year, the business earned $4.82 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the transaction, the chief operating officer directly owned 158,710 shares of the company’s stock, valued at $36,666,771.30. This trade represents a 9.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently modified their holdings of AMG. Carrera Capital Advisors purchased a new position in shares of Affiliated Managers Group in the third quarter worth $4,295,000. Transcend Capital Advisors LLC purchased a new position in Affiliated Managers Group in the 3rd quarter worth $226,000. Thrivent Financial for Lutherans raised its stake in Affiliated Managers Group by 178.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 39,633 shares of the asset manager’s stock worth $9,449,000 after acquiring an additional 25,394 shares during the last quarter. Lingohr Asset Management GmbH purchased a new position in Affiliated Managers Group in the 3rd quarter worth $201,000. Finally, AlphaQuest LLC purchased a new position in Affiliated Managers Group in the 3rd quarter worth $153,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

About Affiliated Managers Group

(Get Free Report)

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.

See Also