Affiliated Managers Group (NYSE:AMG) Stock Price Expected to Rise, Barrington Research Analyst Says

Key Points

• Barrington Research raised its price target on Affiliated Managers Group to $455 from $425 and maintained an “outperform” rating, implying 13.94% upside from the prior close.
• Analyst sentiment is broadly positive: AMG has a “Moderate Buy” consensus rating and an average price target of $460.75; TD Cowen also lifted its target to $583 with a “buy” rating.
• AMG beat quarterly EPS estimates, reporting $9.50 versus $8.79 expected, but revenue of $595.2 million fell short of the $655.08 million forecast. Shares were down 0.6% in Thursday mid-day trading.

Affiliated Managers Group (NYSE:AMG - Get Free Report) had its target price increased by equities research analysts at Barrington Research from $425.00 to $455.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. Barrington Research's price objective would indicate a potential upside of 13.94% from the stock's previous close.

Several other analysts have also issued reports on AMG. TD Cowen upped their price target on shares of Affiliated Managers Group from $523.00 to $583.00 and gave the stock a "buy" rating in a research report on Tuesday. Zacks Research downgraded shares of Affiliated Managers Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Wall Street Zen lowered shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 30th. Finally, Weiss Ratings lowered shares of Affiliated Managers Group from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $460.75.

Affiliated Managers Group Stock Down 0.6%

AMG stock traded down $2.60 during mid-day trading on Thursday, reaching $399.33. The company had a trading volume of 66,640 shares, compared to its average volume of 341,502. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.20 and a quick ratio of 1.24. The stock has a 50 day simple moving average of $373.43 and a two-hundred day simple moving average of $334.93. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.51 and a beta of 1.05. Affiliated Managers Group has a 52 week low of $246.11 and a 52 week high of $408.07.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The asset manager reported $9.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.79 by $0.71. Affiliated Managers Group had a return on equity of 24.44% and a net margin of 34.96%. The company had revenue of $595.20 million for the quarter, compared to analysts' expectations of $655.08 million. During the same quarter in the prior year, the business posted $6.10 EPS. The business's revenue was up .0% compared to the same quarter last year. As a group, equities analysts predict that Affiliated Managers Group will post 37.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AMG. Mather Group LLC. lifted its holdings in Affiliated Managers Group by 335.3% during the 3rd quarter. Mather Group LLC. now owns 74 shares of the asset manager's stock valued at $27,000 after purchasing an additional 57 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Affiliated Managers Group in the second quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Affiliated Managers Group in the second quarter valued at about $48,000. EverSource Wealth Advisors LLC raised its position in shares of Affiliated Managers Group by 45.5% in the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager's stock valued at $50,000 after purchasing an additional 56 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Affiliated Managers Group in the second quarter valued at about $61,000. 95.30% of the stock is owned by institutional investors and hedge funds.

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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