Affiliated Managers Group (NYSE:AMG) had its price objective upped by research analysts at Citigroup from $206.00 to $213.00 in a research report issued on Tuesday, The Fly reports. Citigroup's price target suggests a potential upside of 32.34% from the stock's current price.
Several other brokerages have also recently issued reports on AMG. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on shares of Affiliated Managers Group from $206.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday. Barrington Research restated an "outperform" rating and set a $180.00 price target (up from $145.00) on shares of Affiliated Managers Group in a research report on Monday. Credit Suisse Group increased their price objective on shares of Affiliated Managers Group from $146.00 to $148.00 and gave the company a "neutral" rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Affiliated Managers Group from $150.00 to $152.00 and gave the stock a "hold" rating in a report on Tuesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. The company currently has an average rating of "Hold" and a consensus price target of $150.29.
Shares of AMG stock traded down $0.46 on Tuesday, reaching $160.95. 6,810 shares of the company were exchanged, compared to its average volume of 422,905. Affiliated Managers Group has a 1 year low of $56.80 and a 1 year high of $165.86. The business has a 50-day moving average price of $153.90 and a 200 day moving average price of $118.22. The company has a market cap of $6.72 billion, a price-to-earnings ratio of 69.68, a P/E/G ratio of 0.53 and a beta of 1.44.
Affiliated Managers Group (NYSE:AMG) last released its earnings results on Sunday, May 2nd. The asset manager reported $4.28 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.04. The business had revenue of $559.30 million for the quarter, compared to the consensus estimate of $554.48 million. Affiliated Managers Group had a return on equity of 19.15% and a net margin of 5.37%. The business's quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.26 earnings per share. Analysts anticipate that Affiliated Managers Group will post 12.84 EPS for the current year.
In related news, CEO Jay C. Horgen acquired 4,000 shares of the firm's stock in a transaction dated Tuesday, February 9th. The shares were purchased at an average cost of $136.23 per share, for a total transaction of $544,920.00. Following the acquisition, the chief executive officer now owns 136,026 shares in the company, valued at approximately $18,530,821.98. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Reuben Jeffery III acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, February 10th. The shares were bought at an average cost of $145.53 per share, with a total value of $363,825.00. Following the transaction, the director now directly owns 17,500 shares in the company, valued at approximately $2,546,775. The disclosure for this purchase can be found here. 1.69% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. boosted its position in shares of Affiliated Managers Group by 131.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 56,129 shares of the asset manager's stock worth $6,013,000 after buying an additional 31,919 shares during the period. Sowell Financial Services LLC boosted its holdings in Affiliated Managers Group by 165.4% in the fourth quarter. Sowell Financial Services LLC now owns 1,823 shares of the asset manager's stock valued at $185,000 after purchasing an additional 1,136 shares during the period. Procyon Private Wealth Partners LLC acquired a new position in Affiliated Managers Group in the fourth quarter valued at approximately $284,000. Pendal Group Limited purchased a new position in Affiliated Managers Group in the fourth quarter valued at approximately $300,000. Finally, Rothschild Investment Corp IL raised its holdings in Affiliated Managers Group by 4.5% during the fourth quarter. Rothschild Investment Corp IL now owns 4,912 shares of the asset manager's stock worth $499,000 after purchasing an additional 211 shares in the last quarter. 98.78% of the stock is currently owned by institutional investors.
About Affiliated Managers Group
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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