Affiliated Managers Group (NYSE:AMG) Given "Outperform" Rating at Barrington Research

Key Points

• Barrington Research has reaffirmed its "outperform" rating on Affiliated Managers Group (NYSE:AMG) with a price target of $200.00, suggesting a potential downside of 5.82% from the current price.
• The company's last quarterly earnings report revealed an EPS of $5.20, exceeding analysts' expectations of $5.10, although revenue was lower than expected at $496.60 million.
• Institutional investors own approximately 95.30% of Affiliated Managers Group's stock, indicating strong support from large shareholders.

Affiliated Managers Group (NYSE:AMG - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Barrington Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $200.00 price target on the asset manager's stock. Barrington Research's target price suggests a potential downside of 4.75% from the company's current price.

AMG has been the subject of several other reports. TD Cowen dropped their target price on Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Cowen reiterated a "hold" rating on shares of Affiliated Managers Group in a research note on Monday. The Goldman Sachs Group upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their target price for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Wall Street Zen lowered Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Bank of America dropped their price target on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Affiliated Managers Group presently has a consensus rating of "Hold" and an average target price of $197.80.

Affiliated Managers Group Trading Down 0.6%

Shares of NYSE AMG traded down $1.23 during trading on Tuesday, reaching $209.98. The company had a trading volume of 127,347 shares, compared to its average volume of 208,947. Affiliated Managers Group has a twelve month low of $139.22 and a twelve month high of $216.32. The stock has a market capitalization of $5.97 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.64 and a beta of 1.09. The stock has a 50-day moving average price of $192.97 and a two-hundred day moving average price of $178.16.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating the consensus estimate of $5.10 by $0.10. The firm had revenue of $496.60 million during the quarter, compared to analyst estimates of $508.00 million. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. During the same period in the prior year, the firm posted $5.37 earnings per share. On average, sell-side analysts predict that Affiliated Managers Group will post 22.86 EPS for the current year.

Institutional Investors Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. boosted its position in shares of Affiliated Managers Group by 18.4% in the first quarter. Envestnet Asset Management Inc. now owns 53,727 shares of the asset manager's stock worth $9,028,000 after buying an additional 8,361 shares during the period. Private Trust Co. NA boosted its position in shares of Affiliated Managers Group by 38.1% in the first quarter. Private Trust Co. NA now owns 301 shares of the asset manager's stock worth $51,000 after buying an additional 83 shares during the period. Farther Finance Advisors LLC boosted its holdings in Affiliated Managers Group by 785.2% in the first quarter. Farther Finance Advisors LLC now owns 1,859 shares of the asset manager's stock valued at $315,000 after purchasing an additional 1,649 shares during the last quarter. Dodge & Cox purchased a new position in Affiliated Managers Group in the fourth quarter valued at about $1,202,000. Finally, American Century Companies Inc. boosted its holdings in Affiliated Managers Group by 531.1% in the fourth quarter. American Century Companies Inc. now owns 51,002 shares of the asset manager's stock valued at $9,431,000 after purchasing an additional 42,921 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.

Affiliated Managers Group Company Profile

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.