Affiliated Managers Group Inc. (AMG) Price Target Raised to $188.00 at Deutsche Bank AG
Affiliated Managers Group Inc. (NYSE:AMG) had its target price upped by analysts at Deutsche Bank AG from $186.00 to $188.00 in a report released on Wednesday, StockTargetPrices.com reports. The firm presently has a “buy” rating on the stock. Deutsche Bank AG’s price objective indicates a potential upside of 22.83% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Credit Suisse Group AG set a $212.00 price objective on shares of Affiliated Managers Group and gave the company a “buy” rating in a research note on Wednesday, September 28th. Jefferies Group reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Thursday, August 11th. Zacks Investment Research raised shares of Affiliated Managers Group from a “sell” rating to a “buy” rating and set a $164.00 price target on the stock in a research report on Tuesday. TheStreet cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Affiliated Managers Group from $215.00 to $196.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $179.92.
Affiliated Managers Group (NYSE:AMG) traded down 0.89% during trading on Wednesday, reaching $153.06. 423,086 shares of the company’s stock traded hands. The firm has a market cap of $8.25 billion, a PE ratio of 17.80 and a beta of 1.56. Affiliated Managers Group has a 12 month low of $115.97 and a 12 month high of $190.74. The firm has a 50 day moving average price of $144.49 and a 200-day moving average price of $153.65.
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Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Monday, August 1st. The company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.01 by $0.05. Affiliated Managers Group had a net margin of 20.47% and a return on equity of 18.39%. The firm had revenue of $646.60 million for the quarter, compared to analysts’ expectations of $565.16 million. During the same period last year, the firm earned $3.08 earnings per share. The business’s revenue for the quarter was down 14.3% on a year-over-year basis. On average, analysts forecast that Affiliated Managers Group will post $12.85 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMG. Atlanta Capital Management Co. L L C raised its position in Affiliated Managers Group by 41.2% in the first quarter. Atlanta Capital Management Co. L L C now owns 1,715,527 shares of the company’s stock valued at $278,601,000 after buying an additional 500,978 shares in the last quarter. Marshall Wace LLP raised its position in shares of Affiliated Managers Group by 107.3% in the second quarter. Marshall Wace LLP now owns 602,691 shares of the company’s stock worth $84,841,000 after buying an additional 311,991 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Affiliated Managers Group during the second quarter worth approximately $40,476,000. Fiera Capital Corp bought a new position in shares of Affiliated Managers Group during the second quarter worth approximately $26,068,000. Finally, Junto Capital Management LP bought a new position in shares of Affiliated Managers Group during the first quarter worth approximately $23,903,000. Institutional investors own 96.68% of the company’s stock.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.
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