Affiliated Managers Group (NYSE:AMG) Given New $195.00 Price Target at Bank of America

by · The Markets Daily

Affiliated Managers Group (NYSE:AMG – Free Report) had its price target cut by Bank of America from $211.00 to $195.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

A number of other brokerages have also issued reports on AMG. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $193.00 to $191.00 in a research note on Monday, January 6th. Finally, Barrington Research raised their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.20.

View Our Latest Analysis on AMG

Affiliated Managers Group Price Performance

NYSE AMG opened at $158.16 on Thursday. The firm has a market capitalization of $4.63 billion, a PE ratio of 10.47, a P/E/G ratio of 0.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. Affiliated Managers Group has a 12 month low of $147.13 and a 12 month high of $199.52. The company’s 50 day simple moving average is $171.04 and its 200 day simple moving average is $180.20.

Affiliated Managers Group (NYSE:AMG – Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, equities research analysts forecast that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Tuesday, February 18th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Tuesday, February 18th. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMG. Townsquare Capital LLC acquired a new stake in shares of Affiliated Managers Group in the third quarter worth about $218,000. Glenmede Trust Co. NA lifted its holdings in Affiliated Managers Group by 42.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,149 shares of the asset manager’s stock worth $382,000 after purchasing an additional 637 shares during the last quarter. Captrust Financial Advisors boosted its position in Affiliated Managers Group by 91.4% during the third quarter. Captrust Financial Advisors now owns 3,713 shares of the asset manager’s stock worth $660,000 after purchasing an additional 1,773 shares during the period. Verition Fund Management LLC grew its holdings in Affiliated Managers Group by 240.1% during the third quarter. Verition Fund Management LLC now owns 6,289 shares of the asset manager’s stock valued at $1,118,000 after purchasing an additional 4,440 shares during the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of Affiliated Managers Group in the third quarter valued at approximately $824,000. 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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