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

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

Other equities research analysts have also recently issued reports about the stock. 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. The Goldman Sachs Group boosted their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft set a $408.00 price target on shares of Affiliated Managers Group and gave the company a “buy” rating in a research note on Friday, February 13th. TD Cowen restated a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $350.14.

Affiliated Managers Group Stock Performance

NYSE AMG opened at $265.67 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s fifty day moving average is $296.04 and its two-hundred day moving average is $276.76. The firm has a market capitalization of $7.09 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 0.44 and a beta of 1.20. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $334.78.

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

Insider Activity at Affiliated Managers Group

In other Affiliated Managers Group news, COO Thomas M. Wojcik sold 8,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the sale, the chief operating officer directly owned 159,465 shares in the company, valued at $45,654,829.50. This represents a 4.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kavita Padiyar sold 2,200 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the completion of the transaction, the general counsel directly owned 42,672 shares of the company’s stock, valued at $11,873,057.28. This represents a 4.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.20% of the company’s stock.

Institutional Trading of Affiliated Managers Group

Hedge funds have recently modified their holdings of the stock. Leonteq Securities AG purchased a new stake in Affiliated Managers Group during the 4th quarter worth about $30,000. Root Financial Partners LLC purchased a new position in shares of Affiliated Managers Group in the 3rd quarter valued at about $33,000. Meeder Asset Management Inc. acquired a new position in shares of Affiliated Managers Group during the third quarter worth about $34,000. Hantz Financial Services Inc. grew its position in shares of Affiliated Managers Group by 189.8% during the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after buying an additional 93 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Affiliated Managers Group during the fourth quarter worth approximately $42,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.