Citigroup upgraded shares of Affiliated Managers Group (NYSE:AMG) from a neutral rating to a buy rating in a research note released on Friday morning, Marketbeat reports.

A number of other equities research analysts have also issued reports on the company. Credit Suisse Group reaffirmed a hold rating and issued a $215.00 target price on shares of Affiliated Managers Group in a research note on Friday, January 12th. Zacks Investment Research raised Affiliated Managers Group from a hold rating to a buy rating and set a $225.00 target price on the stock in a research note on Tuesday, January 9th. Goldman Sachs Group lowered Affiliated Managers Group from a buy rating to a neutral rating and set a $216.00 target price on the stock. in a research note on Tuesday, January 9th. Jefferies Group reaffirmed a buy rating and issued a $226.00 target price on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $229.00 target price on shares of Affiliated Managers Group in a research note on Thursday, October 12th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $211.00.

Shares of Affiliated Managers Group (NYSE:AMG) opened at $212.00 on Friday. The company has a market capitalization of $11,780.00, a P/E ratio of 22.94, a PEG ratio of 0.76 and a beta of 1.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.61. Affiliated Managers Group has a 52 week low of $141.58 and a 52 week high of $213.86.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The firm had revenue of $585.70 million for the quarter, compared to analyst estimates of $586.55 million. During the same quarter in the prior year, the company earned $3.02 EPS. Affiliated Managers Group’s revenue was up 7.5% on a year-over-year basis. research analysts expect that Affiliated Managers Group will post 14.48 earnings per share for the current fiscal year.

In other Affiliated Managers Group news, CEO Sean M. Healey sold 69,800 shares of the business’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $185.48, for a total value of $12,946,504.00. Following the completion of the transaction, the chief executive officer now directly owns 194,943 shares in the company, valued at approximately $36,158,027.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight D. Churchill sold 2,080 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $184.28, for a total value of $383,302.40. Following the completion of the transaction, the director now owns 6,104 shares of the company’s stock, valued at $1,124,845.12. The disclosure for this sale can be found here. Insiders sold a total of 89,585 shares of company stock valued at $16,734,012 over the last quarter. 1.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Affiliated Managers Group by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,574,012 shares of the asset manager’s stock valued at $924,505,000 after acquiring an additional 270,929 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Affiliated Managers Group by 60.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,591,358 shares of the asset manager’s stock worth $595,663,000 after buying an additional 1,359,805 shares during the last quarter. State Street Corp increased its holdings in shares of Affiliated Managers Group by 6.7% during the 2nd quarter. State Street Corp now owns 2,757,345 shares of the asset manager’s stock worth $457,334,000 after buying an additional 174,278 shares during the last quarter. Atlanta Capital Management Co. L L C increased its holdings in shares of Affiliated Managers Group by 0.6% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 1,973,612 shares of the asset manager’s stock worth $327,343,000 after buying an additional 10,982 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Affiliated Managers Group by 33.8% during the 2nd quarter. FMR LLC now owns 1,146,357 shares of the asset manager’s stock worth $190,134,000 after buying an additional 289,885 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

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About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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