Zacks Investment Research lowered shares of Affiliated Managers Group, Inc. (NYSE:AMG) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Affiliated Managers’ shares have outperformed the industry, over the last three months. This was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company remains well positioned for growth based on successful partnerships, a diverse product mix and initiatives undertaken to strengthen its retail market operations. Further, inflows are expected to get impetus with broad distribution across channels and product category. However, pressure on revenue growth and higher debt levels remain major near-term concerns. Also, higher intangibles in the balance sheet will likely adversely impact profitability.”

A number of other analysts have also weighed in on the stock. Barrington Research restated an outperform rating and set a $215.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, October 4th. They noted that the move was a valuation call. Jefferies Group LLC restated a buy rating and set a $200.00 target price on shares of Affiliated Managers Group in a research note on Friday, August 18th. Credit Suisse Group upped their target price on shares of Affiliated Managers Group from $205.00 to $223.00 and gave the stock an outperform rating in a research note on Friday, August 11th. Keefe, Bruyette & Woods restated a buy rating and set a $215.00 target price on shares of Affiliated Managers Group in a research note on Thursday, August 3rd. Finally, BidaskClub lowered shares of Affiliated Managers Group from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Affiliated Managers Group has an average rating of Buy and an average price target of $207.25.

Affiliated Managers Group (NYSE:AMG) opened at 193.55 on Tuesday. The stock has a market cap of $10.83 billion, a P/E ratio of 21.44 and a beta of 1.66. The firm’s 50-day moving average is $183.85 and its 200-day moving average is $170.44. Affiliated Managers Group has a 52-week low of $130.48 and a 52-week high of $196.77.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The firm had revenue of $570.90 million for the quarter, compared to analyst estimates of $573.73 million. During the same period in the prior year, the firm earned $3.07 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. Equities research analysts predict that Affiliated Managers Group will post $14.48 earnings per share for the current year.

WARNING: “Affiliated Managers Group, Inc. (AMG) Stock Rating Lowered by Zacks Investment Research” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.watchlistnews.com/affiliated-managers-group-inc-amg-stock-rating-lowered-by-zacks-investment-research/1629525.html.

A number of institutional investors have recently made changes to their positions in the business. OppenheimerFunds Inc. increased its stake in Affiliated Managers Group by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 1,935 shares of the asset manager’s stock valued at $317,000 after purchasing an additional 7 shares during the last quarter. Stephens Inc. AR increased its stake in Affiliated Managers Group by 0.4% in the second quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock valued at $373,000 after purchasing an additional 9 shares during the last quarter. Contravisory Investment Management Inc. increased its stake in Affiliated Managers Group by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 1,621 shares of the asset manager’s stock valued at $269,000 after purchasing an additional 11 shares during the last quarter. Somerset Trust Co increased its stake in Affiliated Managers Group by 0.4% in the second quarter. Somerset Trust Co now owns 3,779 shares of the asset manager’s stock valued at $627,000 after purchasing an additional 16 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. increased its stake in Affiliated Managers Group by 2.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 96.27% of the company’s stock.

Affiliated Managers Group Company Profile

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.

Get a free copy of the Zacks research report on Affiliated Managers Group (AMG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

Receive News & Ratings for Affiliated Managers Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.