Affiliated Managers Group Inc. (NYSE:AMG) had its price target decreased by Jefferies Group from $195.00 to $193.00 in a research note published on Tuesday. Jefferies Group currently has a buy rating on the stock.
Other equities research analysts have also recently issued research reports about the company. Deutsche Bank AG reiterated a buy rating on shares of Affiliated Managers Group in a research note on Sunday, July 10th. 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. TheStreet lowered Affiliated Managers Group from a buy rating to a hold rating in a report on Friday, June 24th. Zacks Investment Research raised Affiliated Managers Group from a sell rating to a hold rating in a report on Thursday, September 1st. Finally, Credit Suisse Group AG set a $212.00 target price on Affiliated Managers Group and gave the company a buy rating in a report on Wednesday, September 28th. Three research 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 stock. The company presently has an average rating of Buy and a consensus price target of $179.75.
Affiliated Managers Group (NYSE:AMG) opened at 142.34 on Tuesday. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 16.55 and a beta of 1.56. The firm has a 50-day moving average price of $145.10 and a 200-day moving average price of $153.23. 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 issued its quarterly earnings data on Monday, August 1st. The company reported $3.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.05. Affiliated Managers Group had a return on equity of 18.39% and a net margin of 20.47%. The company earned $646.60 million during the quarter, compared to analysts’ expectations of $565.16 million. During the same quarter in the previous year, the business earned $3.08 earnings per share. The firm’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, equities analysts predict that Affiliated Managers Group will post $12.85 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services Inc purchased a new stake in Affiliated Managers Group during the first quarter valued at $449,000. NN Investment Partners Holdings N.V. purchased a new stake in Affiliated Managers Group during the first quarter valued at $1,343,000. Bessemer Group Inc. purchased a new stake in Affiliated Managers Group during the first quarter valued at $222,000. Royce & Associates LP raised its stake in Affiliated Managers Group by 169.0% in the first quarter. Royce & Associates LP now owns 8,730 shares of the company’s stock valued at $1,418,000 after buying an additional 5,485 shares during the period. Finally, M&T Bank Corp raised its stake in Affiliated Managers Group by 17.7% in the first quarter. M&T Bank Corp now owns 13,023 shares of the company’s stock valued at $2,114,000 after buying an additional 1,961 shares during the period.
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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