Affiliated Managers Group (NYSE:AMG) Given Buy (B-) Rating at Weiss Ratings

Key Points

• Affiliated Managers Group's stock has received a reaffirmed "buy (B-)" rating from Weiss Ratings, indicating positive analyst outlook.
• Several brokerages, including TD Cowen and Goldman Sachs, have upgraded the stock ratings and target prices significantly, with the average price target now at $272.60.
• The company's recent earnings exceeded consensus estimates with an EPS of $5.39, although revenue declined 1.4% year-over-year.

Affiliated Managers Group (NYSE:AMG - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other brokerages have also commented on AMG. TD Cowen upgraded Affiliated Managers Group from a "hold" rating to a "buy" rating and upped their target price for the company from $214.00 to $255.00 in a research report on Monday, August 4th. Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Friday, September 26th. Zacks Research raised Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Friday, August 22nd. The Goldman Sachs Group boosted their price target on Affiliated Managers Group from $240.00 to $280.00 and gave the company a "buy" rating in a report on Monday. Finally, Barrington Research set a $285.00 price target on Affiliated Managers Group and gave the company an "outperform" rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group presently has an average rating of "Buy" and an average price target of $272.60.

Affiliated Managers Group Stock Performance

NYSE AMG traded up $4.32 during trading hours on Wednesday, reaching $244.27. The stock had a trading volume of 76,138 shares, compared to its average volume of 222,739. The stock has a fifty day moving average of $227.91 and a 200 day moving average of $196.68. The stock has a market cap of $6.94 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 0.63 and a beta of 1.21. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $250.15.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its earnings results on Thursday, July 31st. The asset manager reported $5.39 EPS for the quarter, beating analysts' consensus estimates of $5.26 by $0.13. The firm had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 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 down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.67 earnings per share. On average, equities research analysts forecast that Affiliated Managers Group will post 22.86 EPS for the current year.

Insider Transactions at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Cooper Financial Group purchased a new position in shares of Affiliated Managers Group in the 3rd quarter valued at about $227,000. GAMMA Investing LLC grew its stake in Affiliated Managers Group by 6.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,333 shares of the asset manager's stock worth $318,000 after buying an additional 81 shares during the last quarter. Texas Permanent School Fund Corp grew its stake in Affiliated Managers Group by 2.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 25,744 shares of the asset manager's stock worth $5,066,000 after buying an additional 730 shares during the last quarter. Advisory Services Network LLC grew its stake in Affiliated Managers Group by 93.9% during the 2nd quarter. Advisory Services Network LLC now owns 3,547 shares of the asset manager's stock worth $744,000 after buying an additional 1,718 shares during the last quarter. Finally, State of Wyoming purchased a new position in Affiliated Managers Group during the 2nd quarter worth approximately $73,000. Hedge funds and other 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.

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