Affiliated Managers Group (NYSE:AMG) Stock Rating Lowered by Wall Street Zen

Affiliated Managers Group (NYSE:AMG) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research firms also recently commented on AMG. Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. The Goldman Sachs Group raised Affiliated Managers Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 22nd. Bank of America raised Affiliated Managers Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $236.00 to $331.00 in a research note on Tuesday, September 2nd. Finally, TD Cowen raised Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $214.00 to $255.00 in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat.com, Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus target price of $242.40.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $235.82 on Friday. The firm has a 50-day moving average of $217.10 and a 200-day moving average of $187.69. The stock has a market cap of $6.70 billion, a PE ratio of 17.21, a PEG ratio of 0.62 and a beta of 1.19. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $238.29.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.13. The company had revenue of $493.20 million during the quarter, compared to analysts’ expectations of $506.46 million. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. Affiliated Managers Group’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.67 earnings per share. Equities research analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the transaction, the chief operating officer owned 158,710 shares of the company’s stock, valued at approximately $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its stake in Affiliated Managers Group by 18.4% during the first quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager’s stock worth $9,028,000 after acquiring an additional 8,361 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Affiliated Managers Group by 38.1% during the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager’s stock worth $51,000 after purchasing an additional 83 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Affiliated Managers Group by 785.2% during the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager’s stock worth $315,000 after purchasing an additional 1,649 shares during the last quarter. XTX Topco Ltd grew its holdings in shares of Affiliated Managers Group by 189.9% during the first quarter. XTX Topco Ltd now owns 14,695 shares of the asset manager’s stock worth $2,469,000 after purchasing an additional 9,626 shares during the last quarter. Finally, Goodman Financial Corp grew its holdings in shares of Affiliated Managers Group by 1.6% during the first quarter. Goodman Financial Corp now owns 80,806 shares of the asset manager’s stock worth $13,578,000 after purchasing an additional 1,301 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

About Affiliated Managers Group

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.