Affiliated Managers Group (NYSE:AMG) Rating Lowered to “Hold” at Wall Street Zen

Affiliated Managers Group (NYSE:AMG) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other research firms also recently commented on AMG. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Barrington Research boosted their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group raised their target price on shares of Affiliated Managers Group from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Jefferies Financial Group reiterated a “buy” rating and set a $282.00 price target on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Finally, Bank of America raised their price target on shares of Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $290.33.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $276.88 on Friday. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $283.21. The company has a fifty day moving average of $253.68 and a 200-day moving average of $225.77. The company has a market capitalization of $7.79 billion, a P/E ratio of 16.49, a P/E/G ratio of 0.63 and a beta of 1.22. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating the consensus estimate of $5.88 by $0.22. The firm had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company earned $4.82 EPS. As a group, equities research analysts predict that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Affiliated Managers Group by 428.0% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after acquiring an additional 107 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Affiliated Managers Group during the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. bought a new stake in Affiliated Managers Group during the 3rd quarter valued at about $34,000. Hantz Financial Services Inc. increased its stake in Affiliated Managers Group by 189.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 93 shares in the last quarter. Finally, Millstone Evans Group LLC raised its holdings in Affiliated Managers Group by 41.9% in the third quarter. Millstone Evans Group LLC now owns 176 shares of the asset manager’s stock worth $42,000 after buying an additional 52 shares during the last quarter. Institutional investors 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.