Affiliated Managers Group (NYSE:AMG) Raised to Buy at Wall Street Zen

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

Other equities analysts have also issued reports about the company. Barrington Research upped their target price on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. UBS Group set a $295.00 target price on Affiliated Managers Group in a research report on Tuesday, November 4th. Bank of America boosted 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. TD Cowen increased their price target on shares of Affiliated Managers Group to $485.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Jefferies Financial Group restated a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Moderate Buy” and a consensus target price of $328.67.

Affiliated Managers Group Price Performance

AMG opened at $279.05 on Friday. Affiliated Managers Group has a 1 year low of $139.22 and a 1 year high of $283.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.62 and a beta of 1.22. The firm’s fifty day moving average price is $257.18 and its two-hundred day moving average price is $229.51.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after purchasing an additional 107 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Affiliated Managers Group during the third quarter valued at about $33,000. Meeder Asset Management Inc. purchased a new stake in shares of Affiliated Managers Group in the third quarter worth about $34,000. Hantz Financial Services Inc. grew its stake in Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 93 shares in the last quarter. Finally, Millstone Evans Group LLC grew its stake 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 valued at $42,000 after acquiring an additional 52 shares in the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.