Wall Street Zen Downgrades Affiliated Managers Group (NYSE:AMG) to Hold

Affiliated Managers Group (NYSE:AMG) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other analysts have also issued research reports about the stock. Barrington Research increased their price objective on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. Jefferies Financial Group reaffirmed a “buy” rating and set a $282.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Cowen restated a “buy” rating on shares of Affiliated Managers Group in a research note on Monday, December 15th. Finally, TD Cowen raised their target price on Affiliated Managers Group to $485.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average price target of $338.83.

Affiliated Managers Group Trading Up 0.2%

Shares of NYSE:AMG opened at $307.93 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $311.51. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.57 and a beta of 1.19. The business has a 50-day moving average price of $274.46 and a 200-day moving average price of $241.72.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 3rd. The asset manager reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.88 by $0.22. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The firm had revenue of $528.00 million for the quarter, compared to analyst estimates of $543.39 million. During the same quarter in the prior year, the firm earned $4.82 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts predict that Affiliated Managers Group will post 22.86 EPS for the current year.

Institutional Trading of Affiliated Managers Group

Several institutional investors have recently bought and sold shares of AMG. Voya Investment Management LLC boosted its position in shares of Affiliated Managers Group by 52.2% during the first quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager’s stock worth $4,823,000 after buying an additional 9,845 shares during the period. Cullen Frost Bankers Inc. increased its position in Affiliated Managers Group by 79.4% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 601 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 266 shares during the period. Atlanta Consulting Group Advisors LLC bought a new stake in Affiliated Managers Group during the 2nd quarter valued at $226,000. Oliver Luxxe Assets LLC acquired a new position in Affiliated Managers Group during the 3rd quarter worth $2,673,000. Finally, First Trust Advisors LP grew its stake in shares of Affiliated Managers Group by 18.1% in the second quarter. First Trust Advisors LP now owns 234,679 shares of the asset manager’s stock worth $46,178,000 after purchasing an additional 36,045 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.