Affiliated Managers Group, Inc. (NYSE:AMG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Affiliated Managers’ shares have outperformed the Zacks categorized Investment Management industry, over the last six months. The company remains well positioned for growth based on successful partnerships, a diverse product mix and initiatives undertaken to strengthen its retail market operations. Further, inflows are expected to get impetus with broad distribution across channels and product category. However, we remain concerned about the impacts of continued fall in revenues and higher debt levels on the company’s profitability.”

Several other equities research analysts also recently weighed in on AMG. TheStreet raised Affiliated Managers Group from a “c+” rating to a “b” rating in a report on Monday, March 20th. Jefferies Group LLC reissued a “buy” rating on shares of Affiliated Managers Group in a report on Monday, March 27th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $185.00 price objective on shares of Affiliated Managers Group in a report on Tuesday, April 4th. Deutsche Bank AG decreased their price objective on Affiliated Managers Group from $183.00 to $182.00 and set a “hold” rating for the company in a report on Tuesday, April 18th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Affiliated Managers Group in a report on Tuesday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Affiliated Managers Group presently has an average rating of “Buy” and an average target price of $187.75.

Shares of Affiliated Managers Group (NYSE:AMG) traded up 2.22% on Friday, reaching $169.87. 377,952 shares of the company’s stock traded hands. The firm has a market capitalization of $9.61 billion, a P/E ratio of 19.32 and a beta of 1.64. The firm’s 50 day moving average is $158.75 and its 200 day moving average is $157.85. Affiliated Managers Group has a 52 week low of $130.48 and a 52 week high of $171.65.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, May 1st. The asset manager reported $3.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.18 by $0.03. The firm had revenue of $544.30 million during the quarter, compared to the consensus estimate of $551.56 million. Affiliated Managers Group had a return on equity of 17.53% and a net margin of 22.31%. The firm’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.94 earnings per share. Analysts expect that Affiliated Managers Group will post $14.62 earnings per share for the current fiscal year.

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In other news, Director Dwight D. Churchill sold 3,277 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $163.30, for a total value of $535,134.10. Following the completion of the transaction, the director now owns 7,301 shares in the company, valued at $1,192,253.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Patrick T. Ryan sold 8,902 shares of the firm’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $152.89, for a total value of $1,361,026.78. Following the completion of the transaction, the director now owns 10,342 shares of the company’s stock, valued at approximately $1,581,188.38. The disclosure for this sale can be found here. Insiders sold 69,107 shares of company stock valued at $11,065,554 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Affiliated Managers Group by 4.8% in the first quarter. Vanguard Group Inc. now owns 5,303,083 shares of the asset manager’s stock worth $869,387,000 after buying an additional 243,426 shares in the last quarter. BlackRock Inc. boosted its position in shares of Affiliated Managers Group by 3,178.4% in the first quarter. BlackRock Inc. now owns 3,425,390 shares of the asset manager’s stock worth $561,556,000 after buying an additional 3,320,906 shares in the last quarter. State Street Corp boosted its position in shares of Affiliated Managers Group by 8.5% in the first quarter. State Street Corp now owns 2,583,067 shares of the asset manager’s stock worth $423,466,000 after buying an additional 202,802 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Affiliated Managers Group by 11.0% in the first quarter. Bank of America Corp DE now owns 1,697,570 shares of the asset manager’s stock worth $278,300,000 after buying an additional 168,151 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Affiliated Managers Group by 7.5% in the first quarter. Wells Fargo & Company MN now owns 1,576,703 shares of the asset manager’s stock worth $258,485,000 after buying an additional 110,308 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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