According to Zacks, “Affiliated Managers has a positive record of earnings surprises in the recent quarters. Also, the estimates have been rising ahead of the company’s third-quarter 2016 earnings release. The company remains well positioned based on successful partnerships and global distribution capability along with a diverse product mix and initiatives undertaken to strengthen the retail market operations. Further, given its strong balance sheet and liquidity position, the company has considerable capabilities to invest in other firms. However, the company’s one of the major concerns is the continuous increase in expenses due to investment in affiliates. Further, intangible assets form a substantial part of the balance sheet and hence the company faces the risk of impairment.”
AMG has been the topic of several other research reports. Deutsche Bank AG boosted their price objective on shares of Affiliated Managers Group from $186.00 to $188.00 and gave the stock a buy rating in a report on Wednesday, October 5th. Credit Suisse Group AG reissued an outperform rating and issued a $212.00 target price on shares of Affiliated Managers Group in a research note on Thursday, September 8th. Capital One Financial Corp. reissued a buy rating and issued a $188.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, October 5th. Jefferies Group lowered their target price on shares of Affiliated Managers Group from $197.00 to $195.00 and set a buy rating on the stock in a research note on Monday, July 11th. Finally, TheStreet cut shares of Affiliated Managers Group from a buy rating to a hold rating in a research note on Friday, June 24th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Affiliated Managers Group presently has a consensus rating of Buy and an average price target of $179.75.
Affiliated Managers Group (NYSE:AMG) traded down 1.84% during midday trading on Wednesday, hitting $143.13. The stock had a trading volume of 183,876 shares. Affiliated Managers Group has a 52 week low of $115.97 and a 52 week high of $190.74. The stock’s 50 day moving average price is $145.00 and its 200-day moving average price is $153.41. The company has a market cap of $7.71 billion, a PE ratio of 16.64 and a beta of 1.56.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, August 1st. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.05. Affiliated Managers Group had a net margin of 20.47% and a return on equity of 18.39%. The company had revenue of $646.60 million for the quarter, compared to the consensus estimate of $565.16 million. During the same quarter in the previous year, the firm posted $3.08 EPS. The business’s revenue was down 14.3% compared to the same quarter last year. Equities research analysts predict that Affiliated Managers Group will post $12.85 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. First National Bank of Omaha raised its position in shares of Affiliated Managers Group by 23.0% in the third quarter. First National Bank of Omaha now owns 30,822 shares of the company’s stock valued at $4,460,000 after buying an additional 5,763 shares in the last quarter. Legacy Private Trust Co. acquired a new position in shares of Affiliated Managers Group during the third quarter valued at $245,000. Community Trust & Investment Co. acquired a new position in shares of Affiliated Managers Group during the third quarter valued at $514,000. Oliver Luxxe Assets LLC raised its position in shares of Affiliated Managers Group by 16.6% in the third quarter. Oliver Luxxe Assets LLC now owns 4,354 shares of the company’s stock valued at $630,000 after buying an additional 620 shares in the last quarter. Finally, North Star Asset Management Inc. raised its position in shares of Affiliated Managers Group by 4.4% in the third quarter. North Star Asset Management Inc. now owns 82,692 shares of the company’s stock valued at $11,965,000 after buying an additional 3,481 shares in the last quarter.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.
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