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

Key Points

• Affiliated Managers Group (NYSE:AMG) has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, although other analysts like Bank of America have maintained a "buy" rating and increased their target price to $335.00.
• The company's quarterly earnings exceeded expectations, reporting $5.39 EPS, while revenue fell short at $493.20 million, down 1.4% year-over-year.
• Insider activity saw COO Thomas M. Wojcik sell 16,000 shares, decreasing his position by 9.16%, and institutional investors now hold 95.30% of the company's stock.

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

Several other research analysts have also recently weighed in on AMG. Weiss Ratings reissued a "buy (b-)" rating on shares of Affiliated Managers Group in a report on Wednesday, October 8th. Bank of America raised their target price on shares of Affiliated Managers Group to $335.00 and gave the stock a "buy" rating in a report on Thursday, October 2nd. Zacks Research cut shares of Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a report on Friday, October 10th. TD Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating and raised their target price for the stock from $214.00 to $255.00 in a report on Monday, August 4th. Finally, Cowen raised shares of Affiliated Managers Group from a "hold" rating to a "buy" rating in a report on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $272.60.

Affiliated Managers Group Stock Up 0.9%

Affiliated Managers Group stock opened at $235.89 on Friday. The stock has a market cap of $6.70 billion, a P/E ratio of 17.22, a P/E/G ratio of 0.60 and a beta of 1.21. Affiliated Managers Group has a twelve month low of $139.22 and a twelve month high of $250.15. The company's 50-day moving average price is $232.11 and its two-hundred day moving average price is $200.19.

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

Insider Activity

In related news, COO Thomas M. Wojcik sold 16,000 shares of the 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 sale, the chief operating officer owned 158,710 shares in the company, valued at approximately $36,666,771.30. This trade represents a 9.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.20% of the company's stock.

Institutional Trading of Affiliated Managers Group

Large investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager's stock worth $26,000 after acquiring an additional 107 shares in the last quarter. Millstone Evans Group LLC boosted its position in shares of Affiliated Managers Group by 154.5% during the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock worth $28,000 after acquiring an additional 102 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Affiliated Managers Group in the first quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Affiliated Managers Group by 80.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 229 shares of the asset manager's stock valued at $45,000 after buying an additional 102 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $49,000. Institutional investors and hedge funds 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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