Affiliated Managers Group, Inc. (NYSE:AMG) had its target price boosted by equities researchers at Credit Suisse Group from $205.00 to $223.00 in a report issued on Friday. The brokerage presently has an “outperform” rating on the asset manager’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 27.12% from the stock’s current price.

Several other brokerages also recently issued reports on AMG. Jefferies Group LLC reissued a “buy” rating and issued a $200.00 price target on shares of Affiliated Managers Group in a report on Tuesday, August 1st. BidaskClub downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $215.00 price target on shares of Affiliated Managers Group in a report on Thursday, August 3rd. Zacks Investment Research raised Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $186.00 price target on the stock in a report on Tuesday, July 4th. Finally, Deutsche Bank AG cut their price target on Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating on the stock in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $195.50.

Shares of Affiliated Managers Group (AMG) traded up 0.26% during midday trading on Friday, reaching $175.88. The company’s stock had a trading volume of 258,298 shares. Affiliated Managers Group has a 1-year low of $130.48 and a 1-year high of $187.08. The company’s 50-day moving average price is $174.47 and its 200 day moving average price is $163.94. The firm has a market capitalization of $9.84 billion, a PE ratio of 19.48 and a beta of 1.65.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. The business had revenue of $570.90 million for the quarter, compared to the consensus estimate of $573.73 million. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $3.07 EPS. On average, equities research analysts forecast that Affiliated Managers Group will post $14.55 earnings per share for the current year.

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In other Affiliated Managers Group news, CEO Sean M. Healey sold 56,928 shares of Affiliated Managers Group stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $161.07, for a total transaction of $9,169,392.96. Following the sale, the chief executive officer now owns 206,689 shares of the company’s stock, valued at approximately $33,291,397.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patrick T. Ryan sold 8,902 shares of Affiliated Managers Group stock in a transaction on Friday, May 19th. The shares were sold at an average price of $152.89, for a total value of $1,361,026.78. Following the sale, the director now directly owns 10,342 shares in the company, valued at approximately $1,581,188.38. The disclosure for this sale can be found here. Insiders have sold a total of 69,107 shares of company stock worth $11,065,554 in the last ninety days. 1.40% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in AMG. Louisiana State Employees Retirement System increased its stake in shares of Affiliated Managers Group by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 3,500 shares of the asset manager’s stock valued at $574,000 after buying an additional 100 shares during the last quarter. Oliver Luxxe Assets LLC increased its stake in shares of Affiliated Managers Group by 8.7% in the first quarter. Oliver Luxxe Assets LLC now owns 7,204 shares of the asset manager’s stock valued at $1,181,000 after buying an additional 576 shares during the last quarter. Cullinan Associates Inc. acquired a new stake in shares of Affiliated Managers Group during the first quarter valued at $1,139,000. Tompkins Financial Corp increased its stake in shares of Affiliated Managers Group by 750.0% in the first quarter. Tompkins Financial Corp now owns 2,040 shares of the asset manager’s stock valued at $331,000 after buying an additional 1,800 shares during the last quarter. Finally, American National Bank increased its stake in shares of Affiliated Managers Group by 823.1% in the first quarter. American National Bank now owns 15,130 shares of the asset manager’s stock valued at $2,481,000 after buying an additional 13,491 shares during the last quarter. 94.86% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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