TD Cowen Issues Positive Forecast for Affiliated Managers Group (NYSE:AMG) Stock Price

by · The Markets Daily

Affiliated Managers Group (NYSE:AMG – Free Report) had its target price upped by TD Cowen from $512.00 to $523.00 in a research report report published on Monday,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Several other brokerages have also commented on AMG. Zacks Research lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Weiss Ratings raised shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $388.33.

View Our Latest Stock Report on Affiliated Managers Group

Affiliated Managers Group Stock Down 1.4%

Shares of NYSE:AMG opened at $381.66 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 0.51 and a beta of 1.07. The stock’s 50-day moving average price is $366.28 and its two-hundred day moving average price is $337.37. Affiliated Managers Group has a 12-month low of $231.53 and a 12-month high of $395.00.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. During the same quarter in the prior year, the company posted $5.39 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, research analysts forecast that Affiliated Managers Group will post 36.75 EPS for the current year.

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Stockholders of record on Monday, August 10th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Affiliated Managers Group’s dividend payout ratio is presently 0.14%.

Hedge Funds Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wedmont Private Capital boosted its stake in shares of Affiliated Managers Group by 14.5% in the third quarter. Wedmont Private Capital now owns 883 shares of the asset manager’s stock valued at $342,000 after purchasing an additional 112 shares during the period. Diversified Management Inc. acquired a new stake in Affiliated Managers Group during the 3rd quarter valued at $271,000. GAMMA Investing LLC grew its holdings in Affiliated Managers Group by 5.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,674 shares of the asset manager’s stock valued at $612,000 after purchasing an additional 81 shares in the last quarter. Private Client Services LLC grew its holdings in Affiliated Managers Group by 1.2% during the 3rd quarter. Private Client Services LLC now owns 3,693 shares of the asset manager’s stock valued at $1,350,000 after purchasing an additional 44 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Affiliated Managers Group by 7.0% during the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the asset manager’s stock valued at $200,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

(Get Free Report)

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.

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