Affiliated Managers Group (NYSE:AMG) had its target price hoisted by equities research analysts at Deutsche Bank Aktiengesellschaft from $145.00 to $150.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a "hold" rating on the asset manager's stock. Deutsche Bank Aktiengesellschaft's target price would suggest a potential downside of 2.69% from the company's previous close.
Several other analysts have also recently issued reports on the company. Citigroup upgraded Affiliated Managers Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $108.50 to $172.00 in a research note on Tuesday, February 9th. Credit Suisse Group upped their price objective on Affiliated Managers Group from $118.00 to $130.00 and gave the company a "neutral" rating in a research note on Tuesday, February 9th. Finally, Barrington Research upped their price objective on Affiliated Managers Group from $120.00 to $145.00 in a research note on Tuesday, February 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Affiliated Managers Group currently has a consensus rating of "Hold" and an average target price of $123.83.
Shares of NYSE AMG opened at $154.14 on Friday. Affiliated Managers Group has a 1 year low of $56.80 and a 1 year high of $155.72. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 66.73, a PEG ratio of 0.53 and a beta of 1.44. The stock's 50-day simple moving average is $145.59 and its 200-day simple moving average is $107.30.
Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Sunday, February 7th. The asset manager reported $4.22 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $3.71 by $0.51. Affiliated Managers Group had a return on equity of 19.15% and a net margin of 5.37%. The business had revenue of $555.50 million for the quarter, compared to analyst estimates of $509.38 million. During the same period in the previous year, the company earned $4.52 earnings per share. The company's revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts expect that Affiliated Managers Group will post 12.84 EPS for the current fiscal year.
In related news, Director Reuben Jeffery III purchased 2,500 shares of the company's stock in a transaction dated Wednesday, February 10th. The shares were acquired at an average cost of $145.53 per share, for a total transaction of $363,825.00. Following the transaction, the director now owns 17,500 shares of the company's stock, valued at $2,546,775. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jay C. Horgen purchased 4,000 shares of the company's stock in a transaction dated Tuesday, February 9th. The shares were bought at an average price of $136.23 per share, for a total transaction of $544,920.00. Following the completion of the transaction, the chief executive officer now directly owns 136,026 shares in the company, valued at approximately $18,530,821.98. The disclosure for this purchase can be found here. 1.69% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Lyrical Asset Management LP grew its holdings in Affiliated Managers Group by 3.5% in the 4th quarter. Lyrical Asset Management LP now owns 1,034,404 shares of the asset manager's stock worth $105,199,000 after buying an additional 34,880 shares in the last quarter. Ariel Investments LLC grew its holdings in Affiliated Managers Group by 5.6% in the 4th quarter. Ariel Investments LLC now owns 791,454 shares of the asset manager's stock worth $80,491,000 after buying an additional 42,033 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Affiliated Managers Group by 32.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 482,880 shares of the asset manager's stock worth $49,109,000 after buying an additional 118,827 shares in the last quarter. Norges Bank bought a new position in Affiliated Managers Group in the 4th quarter worth approximately $40,790,000. Finally, Principal Financial Group Inc. grew its holdings in Affiliated Managers Group by 45.0% in the 4th quarter. Principal Financial Group Inc. now owns 200,847 shares of the asset manager's stock worth $20,426,000 after buying an additional 62,314 shares in the last quarter. 98.78% of the stock is owned by institutional investors and hedge funds.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.
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