Affiliated Managers Group’s (AMG) “Buy” Rating Reiterated at Citigroup Inc.
Affiliated Managers Group Inc. (NYSE:AMG)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a report released on Tuesday.
Several other research firms have also commented on AMG. Deutsche Bank AG boosted their price objective on shares of Affiliated Managers Group from $186.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, October 5th. Jefferies Group reiterated a “buy” rating on shares of Affiliated Managers Group in a research report on Thursday, August 11th. Zacks Investment Research upgraded shares of Affiliated Managers Group from a “sell” rating to a “hold” rating in a report on Friday, September 9th. Finally, TheStreet lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $179.75.
Shares of Affiliated Managers Group (NYSE:AMG) traded up 1.20% on Tuesday, hitting $141.50. 269,679 shares of the company were exchanged. The company has a 50-day moving average price of $145.02 and a 200 day moving average price of $152.95. Affiliated Managers Group has a 52-week low of $115.97 and a 52-week high of $190.74. The firm has a market cap of $7.62 billion, a P/E ratio of 16.46 and a beta of 1.56.
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Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, August 1st. The company reported $3.06 EPS for the quarter, topping the 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 business had revenue of $646.60 million for the quarter, compared to analyst estimates of $565.16 million. During the same period in the previous year, the firm earned $3.08 EPS. The business’s revenue for the quarter was down 14.3% compared to the same quarter last year. Analysts predict that Affiliated Managers Group will post $12.85 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of AMG. Chevy Chase Trust Holdings Inc. increased its stake in Affiliated Managers Group by 0.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 45,968 shares of the company’s stock worth $6,471,000 after buying an additional 411 shares during the period. North Star Asset Management Inc. increased its stake in Affiliated Managers Group by 2.5% in the second quarter. North Star Asset Management Inc. now owns 79,211 shares of the company’s stock worth $11,150,000 after buying an additional 1,907 shares during the period. Atlanta Capital Management Co. L L C increased its stake 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 worth $278,601,000 after buying an additional 500,978 shares during the period. Ferguson Wellman Capital Management Inc. increased its stake in Affiliated Managers Group by 4.8% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 70,250 shares of the company’s stock worth $9,889,000 after buying an additional 3,195 shares during the period. Finally, Stoneridge Investment Partners LLC increased its stake in Affiliated Managers Group by 25.2% in the second quarter. Stoneridge Investment Partners LLC now owns 45,491 shares of the company’s stock worth $6,404,000 after buying an additional 9,150 shares during the period.
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.
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