Wall Street Zen Upgrades Affiliated Managers Group (NYSE:AMG) to "Buy"

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

Several other research firms have also issued reports on AMG. Cowen reissued a "hold" rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. TD Cowen lowered their price objective on 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. Bank of America cut their target price on Affiliated Managers Group from $211.00 to $195.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Finally, Barrington Research decreased their price target on 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of "Hold" and an average price target of $192.40.

Affiliated Managers Group Stock Performance

AMG traded down $0.59 during trading on Friday, reaching $179.75. 156,333 shares of the company's stock were exchanged, compared to its average volume of 233,593. Affiliated Managers Group has a fifty-two week low of $139.22 and a fifty-two week high of $199.52. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $167.99 and a 200 day moving average price of $174.96. The company has a market capitalization of $5.11 billion, a P/E ratio of 11.90, a PEG ratio of 0.57 and a beta of 1.06.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.10. The company had revenue of $496.60 million during the quarter, compared to analysts' expectations of $508.00 million. Affiliated Managers Group had a net margin of 25.06% and a return on equity of 16.17%. During the same quarter in the prior year, the company posted $5.37 EPS. As a group, analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp increased its holdings 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 purchasing an additional 62 shares in the last quarter. Millstone Evans Group LLC grew its holdings 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 worth $28,000 after purchasing an additional 102 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of 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 acquired a new stake in shares of Affiliated Managers Group in the first quarter valued at $36,000. Finally, Private Trust Co. NA increased its stake in shares of Affiliated Managers Group by 131.9% in the fourth 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 in the last quarter. 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.