StockNews.com Downgrades Affiliated Managers Group (NYSE:AMG) to Hold

Affiliated Managers Group (NYSE:AMGGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

AMG has been the topic of several other research reports. Citigroup cut their target price on Affiliated Managers Group from $241.00 to $222.00 in a research report on Tuesday, May 3rd. Barrington Research dropped their price target on Affiliated Managers Group from $190.00 to $160.00 in a research note on Monday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Affiliated Managers Group from $162.00 to $152.00 in a research note on Thursday, May 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $202.00.

Shares of Affiliated Managers Group stock opened at $132.56 on Friday. Affiliated Managers Group has a one year low of $116.12 and a one year high of $191.62. The stock’s 50-day moving average is $133.16 and its 200 day moving average is $147.24. The firm has a market cap of $5.17 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.69 and a beta of 1.33.

Affiliated Managers Group (NYSE:AMGGet Rating) last announced its earnings results on Monday, May 2nd. The asset manager reported $4.65 EPS for the quarter, beating the consensus estimate of $4.32 by $0.33. Affiliated Managers Group had a return on equity of 22.99% and a net margin of 22.84%. The company had revenue of $607.30 million for the quarter, compared to analyst estimates of $662.80 million. During the same quarter in the prior year, the company earned $4.28 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts predict that Affiliated Managers Group will post 18.81 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of AMG. Valeo Financial Advisors LLC purchased a new stake in shares of Affiliated Managers Group in the first quarter worth approximately $30,000. Rockefeller Capital Management L.P. increased its position in shares of Affiliated Managers Group by 70.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 206 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 85 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Affiliated Managers Group by 76.3% during the first quarter. Lazard Asset Management LLC now owns 275 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. Whittier Trust Co. increased its position in shares of Affiliated Managers Group by 47.1% during the fourth quarter. Whittier Trust Co. now owns 325 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 104 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Affiliated Managers Group by 121.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 385 shares of the asset manager’s stock valued at $63,000 after acquiring an additional 211 shares during the last quarter. 96.35% of the stock is owned by hedge funds and other institutional investors.

About Affiliated Managers Group (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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