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

Key Points

• Wall Street Zen downgraded Affiliated Managers Group from “Buy” to “Hold.” Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $460.75.
• Other analysts raised their targets, with Barrington Research setting $455 and TD Cowen setting $583; both maintained positive ratings.
• AMG beat quarterly earnings expectations, reporting $9.50 per share versus the $8.79 consensus, but revenue of $595.2 million fell short of analysts’ $655.08 million estimate.

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

Several other equities analysts have also issued reports on the stock. Barrington Research lifted their price objective on shares of Affiliated Managers Group from $425.00 to $455.00 and gave the company an "outperform" rating in a report on Thursday. Zacks Research downgraded shares of Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 29th. Weiss Ratings downgraded shares of Affiliated Managers Group from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday. Finally, TD Cowen lifted their price target on shares of Affiliated Managers Group from $523.00 to $583.00 and gave the stock a "buy" rating in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $460.75.

Affiliated Managers Group Stock Up 0.4%

Shares of Affiliated Managers Group stock opened at $395.05 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.20 and a quick ratio of 1.24. Affiliated Managers Group has a 1 year low of $246.11 and a 1 year high of $408.07. The firm's 50-day moving average is $374.79 and its two-hundred day moving average is $335.78. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.47 and a beta of 1.05.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Monday, November 9th. The asset manager reported $9.50 EPS for the quarter, beating the consensus estimate of $8.79 by $0.71. Affiliated Managers Group had a net margin of 34.96% and a return on equity of 24.44%. The business had revenue of $595.20 million during the quarter, compared to analyst estimates of $655.08 million. During the same quarter in the previous year, the business posted $6.10 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts expect that Affiliated Managers Group will post 37.63 earnings per share for the current fiscal year.

Institutional Trading of Affiliated Managers Group

Large investors have recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC boosted its position in shares of Affiliated Managers Group by 2.9% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 928 shares of the asset manager's stock worth $339,000 after acquiring an additional 26 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Affiliated Managers Group by 6.5% in the 3rd quarter. Allworth Financial LP now owns 489 shares of the asset manager's stock valued at $165,000 after acquiring an additional 30 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Affiliated Managers Group by 2.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager's stock valued at $539,000 after acquiring an additional 34 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Affiliated Managers Group by 7.0% during the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the asset manager's stock worth $200,000 after acquiring an additional 36 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Affiliated Managers Group by 1.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,262 shares of the asset manager's stock worth $1,236,000 after acquiring an additional 37 shares in 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. NYSE: AMG is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.

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