Affiliated Managers Group (AMG) Rating Lowered to Hold at Deutsche Bank

Deutsche Bank lowered shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a hold rating in a research report sent to investors on Thursday, Marketbeat reports. The brokerage currently has $106.00 price target on the asset manager’s stock, down from their previous price target of $158.00.

A number of other equities research analysts also recently issued reports on the company. Barrington Research reissued a buy rating and set a $135.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, January 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded Affiliated Managers Group from a hold rating to a sell rating in a research report on Tuesday, January 8th. Citigroup reduced their price target on Affiliated Managers Group from $140.00 to $130.00 and set a buy rating on the stock in a research report on Wednesday, December 19th. Finally, Bank of America reissued a buy rating and set a $130.00 price target (down previously from $155.00) on shares of Affiliated Managers Group in a research report on Thursday, December 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Affiliated Managers Group currently has a consensus rating of Hold and a consensus target price of $161.43.

Affiliated Managers Group stock opened at $102.11 on Thursday. Affiliated Managers Group has a 12 month low of $88.46 and a 12 month high of $216.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.49. The company has a market capitalization of $5.45 billion, a PE ratio of 6.99, a PEG ratio of 0.66 and a beta of 1.45.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 29th. The asset manager reported $3.45 EPS for the quarter, beating the consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a return on equity of 19.37% and a net margin of 29.38%. The company had revenue of $601.30 million for the quarter, compared to the consensus estimate of $604.82 million. During the same quarter in the prior year, the business earned $3.41 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts anticipate that Affiliated Managers Group will post 14.72 EPS for the current year.

In other Affiliated Managers Group news, EVP Hugh Cutler bought 1,564 shares of Affiliated Managers Group stock in a transaction on Wednesday, October 31st. The shares were purchased at an average price of $115.48 per share, with a total value of $180,610.72. Following the acquisition, the executive vice president now owns 7,087 shares in the company, valued at approximately $818,406.76. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight D. Churchill sold 2,034 shares of the firm’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $110.53, for a total value of $224,818.02. Following the completion of the sale, the director now directly owns 6,522 shares in the company, valued at approximately $720,876.66. The disclosure for this sale can be found here. Corporate insiders own 0.91% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. New Jersey Better Educational Savings Trust boosted its holdings in shares of Affiliated Managers Group by 20.0% in the 3rd quarter. New Jersey Better Educational Savings Trust now owns 2,400 shares of the asset manager’s stock valued at $328,000 after purchasing an additional 400 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Affiliated Managers Group by 21.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 2,339 shares of the asset manager’s stock valued at $348,000 after purchasing an additional 409 shares in the last quarter. Guinness Asset Management Ltd boosted its holdings in shares of Affiliated Managers Group by 21.9% in the 3rd quarter. Guinness Asset Management Ltd now owns 2,274 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 409 shares in the last quarter. Boltwood Capital Management boosted its holdings in shares of Affiliated Managers Group by 7.9% in the 3rd quarter. Boltwood Capital Management now owns 6,315 shares of the asset manager’s stock valued at $863,000 after purchasing an additional 461 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Affiliated Managers Group by 4.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 13,971 shares of the asset manager’s stock valued at $1,909,000 after purchasing an additional 531 shares in the last quarter. 92.13% of the stock is currently owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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