Affiliated Managers Group (NYSE:AMG) PT Lowered to $160.00 at Barrington Research

Affiliated Managers Group (NYSE:AMGGet Rating) had its price objective dropped by research analysts at Barrington Research from $190.00 to $160.00 in a research note issued to investors on Monday, The Fly reports. Barrington Research’s price objective indicates a potential upside of 23.01% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Citigroup reduced their target price on Affiliated Managers Group from $258.00 to $241.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. StockNews.com began coverage on Affiliated Managers Group in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Affiliated Managers Group from $183.00 to $158.00 in a report on Thursday, April 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $197.86.

NYSE:AMG traded up $4.50 during mid-day trading on Monday, reaching $130.07. 25,340 shares of the company’s stock traded hands, compared to its average volume of 267,784. Affiliated Managers Group has a 12-month low of $121.40 and a 12-month high of $191.62. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. The firm’s 50 day moving average is $135.74.

Affiliated Managers Group (NYSE:AMGGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The asset manager reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $0.31. Affiliated Managers Group had a return on equity of 23.53% and a net margin of 23.45%. The company had revenue of $607.30 million for the quarter, compared to the consensus estimate of $662.80 million. During the same quarter in the previous year, the business earned $4.28 EPS. Affiliated Managers Group’s revenue was up 8.6% compared to the same quarter last year. On average, equities research analysts expect that Affiliated Managers Group will post 18.99 earnings per share for the current year.

In other Affiliated Managers Group news, Director Reuben Jeffery III acquired 3,500 shares of the stock in a transaction that occurred on Tuesday, February 15th. The shares were acquired at an average cost of $143.96 per share, with a total value of $503,860.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tracy P. Palandjian acquired 3,700 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The stock was acquired at an average cost of $137.67 per share, for a total transaction of $509,379.00. The disclosure for this purchase can be found here. Insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Yousif Capital Management LLC purchased a new stake in Affiliated Managers Group during the 4th quarter valued at $3,790,000. Commonwealth Equity Services LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at $804,000. Commerce Bank raised its stake in Affiliated Managers Group by 2.7% during the 3rd quarter. Commerce Bank now owns 8,815 shares of the asset manager’s stock valued at $1,331,000 after buying an additional 229 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Affiliated Managers Group by 34.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,950 shares of the asset manager’s stock valued at $979,000 after buying an additional 1,537 shares during the last quarter. Finally, KB Financial Partners LLC increased its stake in shares of Affiliated Managers Group by 28.6% in the 3rd quarter. KB Financial Partners LLC now owns 3,166 shares of the asset manager’s stock worth $478,000 after purchasing an additional 704 shares in the last quarter. Institutional investors and hedge funds own 96.35% of the company’s stock.

Affiliated Managers Group Company Profile (Get Rating)

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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