Morningstar Gives “BBB-” Credit Rating to Affiliated Managers Group (AMG)
Affiliated Managers Group (NYSE:AMG) has earned a “BBB-” credit rating from analysts at Morningstar. The agency’s “BBB-” rating suggests that the company is a moderate default risk. They also issued a negative credit outlook for the company and gave their stock a three star rating.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse upgraded shares of Affiliated Managers Group to a “focus list” rating in a research note on Tuesday, August 26th. Finally, analysts at Keefe, Bruyette & Woods raised their price target on shares of Affiliated Managers Group from $235.00 to $238.00 in a research note on Thursday, July 31st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus price target of $227.80.
Shares of Affiliated Managers Group (NYSE:AMG) traded up 0.41% on Monday, hitting $211.15. 266,235 shares of the company’s stock traded hands. Affiliated Managers Group has a 52-week low of $173.86 and a 52-week high of $219.39. The stock has a 50-day moving average of $202.4 and a 200-day moving average of $195.5. The company has a market cap of $11.730 billion and a price-to-earnings ratio of 28.66.
Affiliated Managers Group (NYSE:AMG) last released its earnings data on Tuesday, July 29th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.05. The company had revenue of $541.00 million for the quarter, compared to the consensus estimate of $630.56 million. During the same quarter in the previous year, the company posted $2.18 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. Analysts expect that Affiliated Managers Group will post $11.86 EPS for the current fiscal year.
In other Affiliated Managers Group news, CEO Sean M. Healey sold 144,247 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $200.85, for a total transaction of $28,972,009.95. The sale was disclosed in a filing with the SEC, which is available at this link.
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).
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