Jefferies Group Lowers Affiliated Managers Group Inc. (AMG) Price Target to $193.00
Affiliated Managers Group Inc. (NYSE:AMG) had its price target reduced by research analysts at Jefferies Group from $195.00 to $193.00 in a research note issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price target would indicate a potential upside of 27.59% from the company’s current price.
Several other equities analysts have also weighed in on AMG. Credit Suisse Group AG restated an “outperform” rating and set a $212.00 target price on shares of Affiliated Managers Group in a report on Thursday, September 8th. Deutsche Bank AG restated a “buy” rating on shares of Affiliated Managers Group in a report on Sunday, July 10th. Capital One Financial Corp. restated a “buy” rating and set a $188.00 target price on shares of Affiliated Managers Group in a report on Wednesday, October 5th. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Thursday, September 1st. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Affiliated Managers Group from $215.00 to $196.00 and set an “outperform” rating on the stock in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Affiliated Managers Group presently has a consensus rating of “Buy” and a consensus price target of $179.75.
Shares of Affiliated Managers Group (NYSE:AMG) traded down 2.76% during trading on Tuesday, hitting $147.10. The company’s stock had a trading volume of 392,050 shares. The company has a market cap of $7.92 billion, a PE ratio of 17.11 and a beta of 1.56. The firm’s 50 day moving average price is $144.77 and its 200-day moving average price is $153.51. Affiliated Managers Group has a 52 week low of $115.97 and a 52 week high of $190.74.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/jefferies-group-lowers-affiliated-managers-group-inc-amg-price-target-to-193-00.html
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 the Thomson Reuters’ consensus estimate 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 company earned $646.60 million during the quarter, compared to analysts’ expectations of $565.16 million. During the same period in the previous year, the company earned $3.08 EPS. The business’s quarterly revenue was down 14.3% compared to the same quarter last year. On average, analysts predict that Affiliated Managers Group will post $12.85 earnings per share for the current year.
Several large investors have recently modified their holdings of AMG. Mizuho Asset Management Co. Ltd. raised its stake in shares of Affiliated Managers Group by 92.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 729 shares of the company’s stock worth $103,000 after buying an additional 350 shares during the period. Mycio Wealth Partners LLC increased its stake in shares of Affiliated Managers Group by 47.9% in the second quarter. Mycio Wealth Partners LLC now owns 880 shares of the company’s stock worth $124,000 after buying an additional 285 shares in the last quarter. Advisor Group Inc. acquired a new stake in shares of Affiliated Managers Group during the second quarter worth $124,000. FNY Managed Accounts LLC increased its stake in shares of Affiliated Managers Group by 360.0% in the second quarter. FNY Managed Accounts LLC now owns 920 shares of the company’s stock worth $130,000 after buying an additional 720 shares in the last quarter. Finally, Washington Trust Bank increased its stake in shares of Affiliated Managers Group by 90.1% in the second quarter. Washington Trust Bank now owns 998 shares of the company’s stock worth $140,000 after buying an additional 473 shares in the last quarter.
About Affiliated Managers Group
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.
Receive News & Ratings for Affiliated Managers Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.