Affiliated Managers Group Inc. (NYSE:AMG) received a $212.00 price objective from investment analysts at Credit Suisse Group AG in a note issued to investors on Wednesday. The brokerage currently has a a “buy” rating on the stock. Credit Suisse Group AG’s price target would indicate a potential upside of 50.77% from the stock’s current price.
A number of other research analysts have also issued reports on the company. Zacks Investment Research lowered Affiliated Managers Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 20th. Deutsche Bank AG boosted their target price on Affiliated Managers Group from $184.00 to $191.00 and gave the company a “buy” rating in a report on Friday, September 9th. Jefferies Group reissued a “buy” rating on shares of Affiliated Managers Group in a report on Thursday, August 11th. Finally, Keefe, Bruyette & Woods dropped their target price on Affiliated Managers Group from $215.00 to $196.00 and set an “outperform” rating on the stock in a report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $180.55.
Affiliated Managers Group (NYSE:AMG) opened at 140.61 on Wednesday. The company has a 50-day moving average of $143.27 and a 200 day moving average of $153.92. The firm has a market cap of $7.57 billion, a P/E ratio of 16.35 and a beta of 1.55. Affiliated Managers Group has a one year low of $115.97 and a one year high of $190.74.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, August 1st. The company reported $3.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.05. The business had revenue of $646.60 million for the quarter, compared to analyst estimates of $565.16 million. Affiliated Managers Group had a return on equity of 18.39% and a net margin of 20.47%. The company’s revenue for the quarter was down 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.08 earnings per share. Equities research analysts expect that Affiliated Managers Group will post $12.86 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services Inc bought a new stake in shares of Affiliated Managers Group during the first quarter valued at about $449,000. Aperio Group LLC increased its stake in shares of Affiliated Managers Group by 105.7% in the first quarter. Aperio Group LLC now owns 49,382 shares of the company’s stock valued at $8,020,000 after buying an additional 25,376 shares in the last quarter. Nisa Investment Advisors L.L.C. increased its stake in shares of Affiliated Managers Group by 14.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 21,710 shares of the company’s stock valued at $3,526,000 after buying an additional 2,800 shares in the last quarter. Morris Capital Advisors LLC bought a new stake in shares of Affiliated Managers Group during the first quarter valued at about $3,198,000. Finally, NN Investment Partners Holdings N.V. bought a new stake in shares of Affiliated Managers Group during the first quarter valued at about $1,343,000. Institutional investors and hedge funds own 96.68% of the company’s stock.
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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