Affiliated Managers Group (NYSE:AMG) Upgraded by The Goldman Sachs Group to Buy Rating

Affiliated Managers Group (NYSE:AMG - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a report issued on Friday,Finviz reports. The brokerage presently has a $218.00 price objective on the asset manager's stock. The Goldman Sachs Group's price target suggests a potential upside of 13.49% from the stock's previous close.

Several other equities research analysts have also recently commented on the company. TD Cowen decreased 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. Barrington Research reduced their price target on shares of Affiliated Managers Group from $215.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. Bank of America decreased their price target on shares of 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. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. Finally, Wall Street Zen raised Affiliated Managers Group from a "hold" rating to a "buy" rating in a research report on Saturday, May 31st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Affiliated Managers Group has a consensus rating of "Moderate Buy" and an average target price of $197.80.

Affiliated Managers Group Price Performance

Shares of AMG stock opened at $192.10 on Friday. The stock has a market capitalization of $5.46 billion, a PE ratio of 14.60, a PEG ratio of 0.64 and a beta of 1.08. The business's 50 day simple moving average is $176.76 and its 200 day simple moving average is $174.74. Affiliated Managers Group has a one year low of $139.22 and a one year high of $199.52.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $508.00 million. During the same period in the prior year, the firm posted $5.37 EPS. As a group, research analysts expect that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Institutional Trading of Affiliated Managers Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its stake in Affiliated Managers Group by 79.5% during the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager's stock valued at $26,000 after acquiring an additional 62 shares in the last quarter. Millstone Evans Group LLC lifted its position in shares of Affiliated Managers Group by 154.5% during the first quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager's stock valued at $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% during 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 during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Affiliated Managers Group in the 1st quarter worth about $36,000. Finally, Private Trust Co. NA increased its stake in Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager's stock valued at $40,000 after buying an additional 124 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other 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.

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