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

Key Points

• Affiliated Managers Group (NYSE:AMG) received an "outperform" rating from Barrington Research, with a target price of $240.00, indicating a potential downside of 2.07% from its current price.
• Goldman Sachs upgraded AMG from a "neutral" to a "buy" rating, increasing its price target to $218.00, while the average consensus target price among analysts is $250.40.
• The COO, Thomas M. Wojcik, recently sold 16,000 shares of the company's stock, valuing the transaction at approximately $3.7 million, representing a 9.16% decrease in his ownership.

Affiliated Managers Group (NYSE:AMG - Get Free Report)'s stock had its "outperform" rating reissued by equities research analysts at Barrington Research in a note issued to investors on Tuesday,Benzinga reports. They presently have a $240.00 target price on the asset manager's stock. Barrington Research's price objective indicates a potential downside of 2.07% from the company's current price.

Several other equities research analysts have also issued reports on AMG. The Goldman Sachs Group upgraded shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and lifted their price target for the company from $197.00 to $218.00 in a research note on Friday, June 27th. Zacks Research upgraded shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 22nd. TD Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $214.00 to $255.00 in a research note on Monday, August 4th. Cowen upgraded shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a research note on Monday, August 4th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a "buy" rating to a "hold" rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, Affiliated Managers Group has an average rating of "Buy" and a consensus target price of $250.40.

Affiliated Managers Group Price Performance

AMG stock traded up $1.06 during midday trading on Tuesday, hitting $245.07. The company's stock had a trading volume of 42,317 shares, compared to its average volume of 223,021. Affiliated Managers Group has a twelve month low of $139.22 and a twelve month high of $250.15. The company's fifty day moving average price is $221.40 and its 200 day moving average price is $191.15. The stock has a market capitalization of $6.96 billion, a P/E ratio of 17.92, a PEG ratio of 0.64 and a beta of 1.19.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The asset manager reported $5.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.26 by $0.13. Affiliated Managers Group had a net margin of 21.79% and a return on equity of 16.11%. The firm had revenue of $493.20 million for the quarter, compared to analyst estimates of $506.46 million. During the same period in the previous year, the business earned $4.67 EPS. The company's revenue was down 1.4% compared to the same quarter last year. Equities analysts expect that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Insider Buying and Selling at Affiliated Managers Group

In other news, COO Thomas M. Wojcik sold 16,000 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $231.03, for a total transaction of $3,696,480.00. Following the completion of the sale, the chief operating officer owned 158,710 shares of the company's stock, valued at approximately $36,666,771.30. This represents a 9.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Affiliated Managers Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clarkston Capital Partners LLC increased its position in Affiliated Managers Group by 0.8% in the 1st quarter. Clarkston Capital Partners LLC now owns 1,585,324 shares of the asset manager's stock valued at $266,382,000 after acquiring an additional 13,135 shares during the period. Millennium Management LLC increased its position in 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 valued at $212,668,000 after acquiring an additional 960,158 shares during the period. LSV Asset Management increased its position in Affiliated Managers Group by 1.7% in the 2nd quarter. LSV Asset Management now owns 476,224 shares of the asset manager's stock valued at $93,707,000 after acquiring an additional 8,140 shares during the period. Northern Trust Corp increased its position in shares of Affiliated Managers Group by 10.2% during the first quarter. Northern Trust Corp now owns 385,292 shares of the asset manager's stock worth $64,741,000 after buying an additional 35,681 shares during the period. Finally, Norges Bank acquired a new stake in shares of Affiliated Managers Group during the second quarter worth $71,779,000. 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.

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