Affiliated Managers Group (NYSE:AMG) Upgraded by Wall Street Zen to Buy Rating

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

Several other research analysts have also recently commented on AMG. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Barrington Research increased 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. Finally, TD Cowen reaffirmed a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $340.50.

Affiliated Managers Group Stock Performance

AMG opened at $313.24 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market cap of $8.81 billion, a PE ratio of 18.66, a P/E/G ratio of 0.58 and a beta of 1.19. The business has a fifty day simple moving average of $292.83 and a 200-day simple moving average of $253.30. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $333.99.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Boston Partners raised its stake in shares of Affiliated Managers Group by 2.1% during the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock worth $275,957,000 after purchasing an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Affiliated Managers Group by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 684,116 shares of the asset manager’s stock valued at $163,113,000 after acquiring an additional 7,891 shares in the last quarter. LSV Asset Management lifted its stake in Affiliated Managers Group by 0.7% in the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after acquiring an additional 3,400 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Affiliated Managers Group by 14.6% in the third quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock valued at $93,741,000 after acquiring an additional 50,219 shares during the last quarter. Finally, Norges Bank bought a new stake in Affiliated Managers Group in the second quarter worth approximately $71,779,000. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

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.