Affiliated Managers Group (NYSE:AMG) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of Affiliated Managers Group (NYSE:AMG – Free Report) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other research analysts have also weighed in on AMG. Barrington Research raised their price objective on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, November 4th. UBS Group set a $295.00 price target on Affiliated Managers Group in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their price target 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. Finally, Bank of America lifted their price objective on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Affiliated Managers Group presently has an average rating of “Buy” and an average price target of $328.67.

Get Our Latest Stock Report on AMG

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $275.29 on Friday. The business has a 50-day simple moving average of $254.29 and a 200 day simple moving average of $227.17. Affiliated Managers Group has a one year low of $139.22 and a one year 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. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $543.39 million. During the same quarter last year, the firm posted $4.82 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts anticipate 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. Investors of record on Thursday, November 13th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Thursday, November 13th. Affiliated Managers Group’s payout ratio is presently 0.24%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC lifted its position in Affiliated Managers Group by 314.3% during the first quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock valued at $212,668,000 after purchasing an additional 960,158 shares during the last quarter. Norges Bank bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth $71,779,000. Balyasny Asset Management L.P. grew its position in Affiliated Managers Group by 3,811.8% in the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after acquiring an additional 303,423 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Affiliated Managers Group in the third quarter valued at $70,356,000. Finally, UBS Group AG raised its position in Affiliated Managers Group by 97.4% during the third quarter. UBS Group AG now owns 350,212 shares of the asset manager’s stock valued at $83,501,000 after purchasing an additional 172,771 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

(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.

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