Affiliated Managers Group's (AMG) "Buy" Rating Reaffirmed at TD Cowen

Affiliated Managers Group (NYSE:AMG - Get Free Report)'s stock had its "buy" rating restated by research analysts at TD Cowen in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $512.00 price objective on the asset manager's stock. TD Cowen's price objective would indicate a potential upside of 39.37% from the stock's previous close.

Several other brokerages also recently weighed in on AMG. Wall Street Zen downgraded shares of Affiliated Managers Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 30th. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research note on Friday, July 31st. Zacks Research raised shares of Affiliated Managers Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Affiliated Managers Group in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, Affiliated Managers Group currently has an average rating of "Buy" and an average price target of $379.14.

Affiliated Managers Group Stock Down 0.2%

Shares of AMG stock traded down $0.75 on Tuesday, hitting $367.38. The stock had a trading volume of 9,651 shares, compared to its average volume of 342,886. The firm has a market capitalization of $9.50 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.51 and a beta of 1.10. The stock's 50 day moving average is $362.83 and its 200-day moving average is $330.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. Affiliated Managers Group has a 52-week low of $230.10 and a 52-week high of $392.92.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last announced its earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The business had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. The business's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.39 earnings per share. As a group, research analysts expect that Affiliated Managers Group will post 36.69 earnings per share for the current year.

Institutional Trading of Affiliated Managers Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Affiliated Managers Group by 2.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager's stock worth $539,000 after purchasing an additional 34 shares during the last quarter. Wedmont Private Capital increased its stake in shares of Affiliated Managers Group by 5.3% in the 2nd quarter. Wedmont Private Capital now owns 771 shares of the asset manager's stock valued at $283,000 after acquiring an additional 39 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager's stock valued at $281,000 after purchasing an additional 42 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Affiliated Managers Group by 45.5% in the 1st 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, WealthCollab LLC grew its position in shares of Affiliated Managers Group by 40.5% in the 1st quarter. WealthCollab LLC now owns 229 shares of the asset manager's stock valued at $63,000 after purchasing an additional 66 shares during the period. 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 a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG's affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.