Affiliated Managers Group (NYSE:AMG) Upgraded at Wall Street Zen

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

A number of other research firms have also recently commented on AMG. Barrington Research raised their price target on Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the company a “buy” rating in a report on Friday, February 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Finally, 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. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group Trading Down 10.8%

Shares of NYSE:AMG opened at $287.58 on Friday. The stock has a 50 day moving average of $305.75 and a 200 day moving average of $264.18. The company has a market cap of $7.67 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 0.54 and a beta of 1.21. Affiliated Managers Group has a 12-month low of $139.22 and a 12-month high of $334.78. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.64.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share for the quarter, beating the consensus estimate of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to the consensus estimate of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.53 earnings per share. As a group, equities research analysts expect that Affiliated Managers Group will post 22.86 EPS for the current year.

Institutional Trading of Affiliated Managers Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Boston Partners lifted its holdings in Affiliated Managers Group by 2.1% during the third quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock worth $275,957,000 after buying an additional 24,217 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 699,448 shares of the asset manager’s stock worth $201,640,000 after acquiring an additional 15,332 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Affiliated Managers Group by 20.2% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock valued at $197,641,000 after acquiring an additional 115,313 shares during the last quarter. Geode Capital Management LLC grew its holdings in Affiliated Managers Group by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 551,153 shares of the asset manager’s stock worth $158,916,000 after purchasing an additional 41,322 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of Affiliated Managers Group by 0.7% during the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock worth $114,357,000 after purchasing an additional 3,400 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.