Affiliated Managers Group's (AMG) "Outperform" Rating Reiterated at Barrington Research

Key Points

• Barrington Research reiterated an "Outperform" rating on Affiliated Managers Group and set a $365 price target, implying roughly a 26.9% upside from current levels.
• Analyst consensus is a "Moderate Buy" (seven Buys, one Hold) with a consensus target of $360.14; AMG trades around $287.69, has a market cap of $7.64B and a P/E of 12.46.
• AMG beat quarterly EPS estimates ($9.48 vs. $8.75) with strong margins and ROE, though revenue slightly missed expectations; insiders have recently sold shares while institutional ownership remains high (~95.3%).

Affiliated Managers Group (NYSE:AMG - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Barrington Research in a note issued to investors on Monday,Benzinga reports. They currently have a $365.00 target price on the asset manager's stock. Barrington Research's price objective indicates a potential upside of 26.87% from the company's current price.

AMG has been the subject of several other reports. Wall Street Zen lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. TD Cowen reiterated a "buy" rating on shares of Affiliated Managers Group in a research report on Thursday, April 9th. The Goldman Sachs Group boosted their target price on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a "buy" rating in a research note on Tuesday, January 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Affiliated Managers Group in a research report on Wednesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft set a $408.00 target price on shares of Affiliated Managers Group and gave the stock a "buy" rating in a research report on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $360.14.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $287.69 on Monday. Affiliated Managers Group has a 12-month low of $160.34 and a 12-month high of $334.78. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.34. The firm's fifty day moving average price is $289.75 and its 200 day moving average price is $282.68.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.75 by $0.73. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The firm had revenue of $556.60 million for the quarter, compared to the consensus estimate of $578.54 million. During the same quarter in the previous year, the firm posted $6.53 EPS. The firm's quarterly revenue was up 6.2% on a year-over-year basis. On average, research analysts forecast that Affiliated Managers Group will post 30.49 EPS for the current fiscal year.

Insider Activity

In other Affiliated Managers Group news, General Counsel Kavita Padiyar sold 2,200 shares of the business's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $278.24, for a total value of $612,128.00. Following the completion of the sale, the general counsel directly owned 42,672 shares of the company's stock, valued at $11,873,057.28. The trade was a 4.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Thomas M. Wojcik sold 8,000 shares of the business's stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $286.30, for a total transaction of $2,290,400.00. Following the completion of the sale, the chief operating officer directly owned 159,465 shares of the company's stock, valued at $45,654,829.50. This represents a 4.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.20% of the stock is owned by insiders.

Institutional Trading of Affiliated Managers Group

Large investors have recently added to or reduced their stakes in the business. Leonteq Securities AG bought a new stake in Affiliated Managers Group in the fourth quarter worth approximately $30,000. Root Financial Partners LLC bought a new position in shares of Affiliated Managers Group in the 3rd quarter valued at approximately $33,000. Meeder Asset Management Inc. bought a new position in shares of Affiliated Managers Group in the 3rd quarter valued at approximately $34,000. Hantz Financial Services Inc. raised its stake in shares of Affiliated Managers Group by 189.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager's stock valued at $34,000 after acquiring an additional 93 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Affiliated Managers Group in the 4th quarter valued at approximately $42,000. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc NYSE: AMG is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates' distribution capabilities, operational infrastructure and access to capital.

The company's core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.

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