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

Affiliated Managers Group (NYSE:AMG - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Friday.

Other research analysts have also issued reports about the stock. 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. TD Cowen dropped their price objective on shares of Affiliated Managers Group from $187.00 to $168.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Barrington Research reduced their target price on Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Cowen reaffirmed a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group raised 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $197.80.

Affiliated Managers Group Stock Performance

Shares of AMG stock traded up $5.45 during mid-day trading on Friday, hitting $197.61. The company's stock had a trading volume of 415,010 shares, compared to its average volume of 222,299. The company has a market cap of $5.62 billion, a PE ratio of 15.02, a P/E/G ratio of 0.65 and a beta of 1.08. The company's fifty day simple moving average is $177.59 and its 200-day simple moving average is $174.82. Affiliated Managers Group has a 52 week low of $139.22 and a 52 week high of $199.52.

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

Hedge Funds Weigh In On Affiliated Managers Group

Several large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC increased its holdings in Affiliated Managers Group by 52.2% during the 1st quarter. Voya Investment Management LLC now owns 28,703 shares of the asset manager's stock worth $4,823,000 after purchasing an additional 9,845 shares in the last quarter. Nicola Wealth Management LTD. boosted its position in shares of Affiliated Managers Group by 37.5% during the first quarter. Nicola Wealth Management LTD. now owns 22,000 shares of the asset manager's stock valued at $3,697,000 after buying an additional 6,000 shares during the last quarter. First Hawaiian Bank grew its holdings in Affiliated Managers Group by 2.1% during the first quarter. First Hawaiian Bank now owns 9,269 shares of the asset manager's stock worth $1,557,000 after buying an additional 190 shares in the last quarter. Strs Ohio purchased a new stake in Affiliated Managers Group in the 1st quarter valued at $2,152,000. Finally, Jane Street Group LLC purchased a new stake in Affiliated Managers Group in the 1st quarter valued at $1,947,000. 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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