Affiliated Managers Group (NYSE:AMG) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Affiliated Managers Group (NYSE:AMGGet Rating) in a research note released on Monday morning, The Fly reports. The brokerage issued a buy rating and a $182.00 price objective on the asset manager’s stock.

Several other brokerages also recently issued reports on AMG. Barrington Research raised their price target on Affiliated Managers Group from $145.00 to $155.00 in a report on Monday, November 7th. StockNews.com raised Affiliated Managers Group from a hold rating to a buy rating in a research note on Tuesday, November 8th. Credit Suisse Group lifted their target price on Affiliated Managers Group from $140.00 to $163.50 and gave the company an outperform rating in a research note on Tuesday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Affiliated Managers Group from $161.00 to $171.00 and gave the company a buy rating in a research note on Tuesday, November 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $175.64.

Affiliated Managers Group Trading Up 1.0 %

Shares of NYSE AMG opened at $155.43 on Monday. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 11.87, a price-to-earnings-growth ratio of 0.98 and a beta of 1.28. Affiliated Managers Group has a 12-month low of $108.12 and a 12-month high of $178.16. The stock’s 50 day simple moving average is $126.78 and its 200 day simple moving average is $126.43.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, November 16th. Affiliated Managers Group’s payout ratio is 0.31%.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds have recently modified their holdings of the stock. Clarkston Capital Partners LLC grew its holdings in shares of Affiliated Managers Group by 2.4% in the 3rd quarter. Clarkston Capital Partners LLC now owns 2,077,383 shares of the asset manager’s stock worth $232,355,000 after acquiring an additional 49,201 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Affiliated Managers Group by 429.9% in the third quarter. Captrust Financial Advisors now owns 9,788 shares of the asset manager’s stock worth $1,095,000 after buying an additional 7,941 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Affiliated Managers Group by 19.5% in the third quarter. Neuberger Berman Group LLC now owns 13,423 shares of the asset manager’s stock worth $1,501,000 after buying an additional 2,189 shares during the period. Algert Global LLC boosted its position in shares of Affiliated Managers Group by 16.1% in the third quarter. Algert Global LLC now owns 25,658 shares of the asset manager’s stock worth $2,870,000 after buying an additional 3,550 shares during the period. Finally, River & Mercantile Asset Management LLP boosted its position in shares of Affiliated Managers Group by 47.2% in the third quarter. River & Mercantile Asset Management LLP now owns 56,834 shares of the asset manager’s stock worth $8,587,000 after buying an additional 18,216 shares during the period. 96.62% of the stock is currently owned by institutional investors and hedge funds.

About Affiliated Managers Group

(Get Rating)

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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