Share on StockTwits

Affiliated Managers Group (NYSE:AMG)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Tuesday. They currently have a $216.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 5.16% from the company’s current price.

Zacks’ analyst wrote, “Affiliated Managers’ first-quarter 2014 economic net income (ENI) surpassed the Zacks Consensus Estimate. While growth in revenues driven by improvement in assets under management (AUM) was the tailwind, higher expenses acted as the dampener. We believe that the company’s diversification in product mix and footprint as well as steady AUM stream and several restructuring initiatives to strengthen retail market operations will aid future growth. Moreover, strong balance sheet position will enable the company to further invest in affiliates. However, high debt levels, significantly higher intangibles and rising expenses remain the key concerns.”

Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank initiated coverage on shares of Affiliated Managers Group in a research note on Thursday, May 15th. They set a “buy” rating and a $227.00 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Affiliated Managers Group in a research note on Wednesday, April 30th. They now have a $240.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Affiliated Managers Group from $225.00 to $232.00 in a research note on Wednesday, April 30th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $227.57.

Shares of Affiliated Managers Group (NYSE:AMG) traded up 0.28% on Tuesday, hitting $205.97. The stock had a trading volume of 305,354 shares. Affiliated Managers Group has a one year low of $156.61 and a one year high of $219.39. The stock has a 50-day moving average of $195.5 and a 200-day moving average of $196.2. The company has a market cap of $11.386 billion and a P/E ratio of 30.31.

Affiliated Managers Group (NYSE:AMG) last released its earnings data on Tuesday, April 29th. The company reported $2.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.38 by $0.10. The company had revenue of $593.10 million for the quarter, compared to the consensus estimate of $607.83 million. During the same quarter last year, the company posted $2.27 earnings per share. Affiliated Managers Group’s revenue was up 18.1% compared to the same quarter last year. On average, analysts predict that Affiliated Managers Group will post $11.79 earnings per share for the current fiscal year.

Affiliated Managers Group, Inc (NYSE:AMG) is a global asset management company with equity investments in a diverse group of boutique investment management firms (Affiliates).

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.