Affiliated Managers Group (NYSE:AMG) Given New $295.00 Price Target at Barrington Research

Affiliated Managers Group (NYSE:AMG) had its price target lifted by analysts at Barrington Research from $285.00 to $295.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the asset manager’s stock. Barrington Research’s target price points to a potential upside of 17.06% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Cowen raised shares of Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Monday, August 4th. Wall Street Zen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Bank of America upped their price objective on Affiliated Managers Group to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $275.83.

Affiliated Managers Group Stock Performance

Shares of AMG stock traded down $4.55 during mid-day trading on Tuesday, reaching $252.01. 84,957 shares of the company’s stock traded hands, compared to its average volume of 223,237. The firm has a 50 day moving average price of $236.71 and a two-hundred day moving average price of $207.77. Affiliated Managers Group has a 12 month low of $139.22 and a 12 month high of $256.81. The firm has a market capitalization of $7.16 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 0.61 and a beta of 1.21.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.88 by $0.22. The business had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a return on equity of 16.11% and a net margin of 21.79%.Affiliated Managers Group’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.82 earnings per share. As a group, equities analysts expect that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Insider Transactions at Affiliated Managers Group

In related news, COO Thomas M. Wojcik sold 16,000 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $231.03, for a total value of $3,696,480.00. Following the completion of the sale, the chief operating officer directly owned 158,710 shares in the company, valued at $36,666,771.30. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affiliated Managers Group

Several institutional investors have recently made changes to their positions in AMG. Millennium Management LLC lifted its holdings in shares of Affiliated Managers Group by 314.3% in the 1st quarter. Millennium Management LLC now owns 1,265,655 shares of the asset manager’s stock worth $212,668,000 after acquiring an additional 960,158 shares during the last quarter. Norges Bank bought a new stake in Affiliated Managers Group in the second quarter worth about $71,779,000. Balyasny Asset Management L.P. lifted its stake in Affiliated Managers Group by 3,811.8% in the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after purchasing an additional 303,423 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Affiliated Managers Group during the 2nd quarter worth approximately $19,865,000. Finally, Nuveen LLC bought a new stake in shares of Affiliated Managers Group during the 1st quarter worth approximately $16,060,000. Institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.