Affiliated Managers Group, Inc. (NYSE:AMG) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $272.60.

Several brokerages have recently issued reports on AMG. TD Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $214.00 to $255.00 in a research report on Monday, August 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, October 8th. Barrington Research boosted their price objective on Affiliated Managers Group from $240.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their price objective on Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Finally, Cowen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Monday, August 4th.

Insider Buying and Selling

In related news, COO Thomas M. Wojcik sold 16,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 158,710 shares of the company’s stock, valued at $36,666,771.30. The trade was a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Procyon Advisors LLC raised its holdings in Affiliated Managers Group by 3.1% during the third quarter. Procyon Advisors LLC now owns 1,648 shares of the asset manager’s stock worth $393,000 after purchasing an additional 50 shares in the last quarter. Millstone Evans Group LLC raised its holdings in Affiliated Managers Group by 41.9% during the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after purchasing an additional 52 shares in the last quarter. Redwood Investment Management LLC raised its holdings in Affiliated Managers Group by 0.9% during the first quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager’s stock worth $1,306,000 after purchasing an additional 69 shares in the last quarter. Guinness Asset Management LTD raised its holdings in Affiliated Managers Group by 2.4% during the second quarter. Guinness Asset Management LTD now owns 3,196 shares of the asset manager’s stock worth $629,000 after purchasing an additional 74 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Affiliated Managers Group by 11.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 737 shares of the asset manager’s stock worth $124,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Stock Up 0.7%

Shares of AMG stock opened at $238.32 on Friday. The business has a 50 day moving average of $236.07 and a two-hundred day moving average of $206.70. The company has a market cap of $6.77 billion, a P/E ratio of 17.40, a PEG ratio of 0.61 and a beta of 1.21. Affiliated Managers Group has a 52 week low of $139.22 and a 52 week high of $250.15.

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

Affiliated Managers Group Company Profile

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.