Affiliated Managers Group (NYSE:AMG) Rating Lowered to "Hold" at Wall Street Zen

Wall Street Zen downgraded shares of Affiliated Managers Group (NYSE:AMG - Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other brokerages also recently issued reports on AMG. Bank of America cut their target price on shares of Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Barrington Research dropped their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Cowen reaffirmed a "hold" rating on shares of Affiliated Managers Group in a research note on Wednesday, May 14th. TD Cowen dropped their price target on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group raised shares of Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $197.00 to $218.00 in a research note on Friday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Affiliated Managers Group presently has an average rating of "Hold" and a consensus price target of $197.80.

Affiliated Managers Group Trading Down 0.5%

NYSE:AMG traded down $1.04 during trading hours on Friday, hitting $196.63. 294,121 shares of the stock traded hands, compared to its average volume of 220,962. The firm has a 50 day moving average price of $177.59 and a 200 day moving average price of $174.62. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $204.81. The firm has a market cap of $5.59 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 0.66 and a beta of 1.08.

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

Affiliated Managers Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Monday, May 19th. Affiliated Managers Group's dividend payout ratio is presently 0.30%.

Institutional Investors Weigh In On Affiliated Managers Group

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp boosted its holdings in Affiliated Managers Group by 79.5% in the fourth quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Millstone Evans Group LLC boosted its holdings in Affiliated Managers Group by 154.5% in the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after purchasing an additional 102 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Affiliated Managers Group by 70.8% in the first quarter. Versant Capital Management Inc now owns 181 shares of the asset manager's stock worth $30,000 after purchasing an additional 75 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Affiliated Managers Group in the first quarter worth $36,000. Finally, Private Trust Co. NA boosted its holdings in Affiliated Managers Group by 131.9% in the fourth quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock worth $40,000 after purchasing an additional 124 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.