Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned an average rating of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $189.86.

Several research firms have commented on AMG. BidaskClub raised shares of Affiliated Managers Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. ValuEngine upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $185.00 price target on shares of Affiliated Managers Group in a research report on Tuesday, April 4th. Finally, TheStreet upgraded Affiliated Managers Group from a “c+” rating to a “b” rating in a research report on Monday, March 20th.

Shares of Affiliated Managers Group (AMG) opened at 176.30 on Tuesday. Affiliated Managers Group has a 12 month low of $130.48 and a 12 month high of $176.74. The company has a market cap of $9.98 billion, a P/E ratio of 20.05 and a beta of 1.63. The stock’s 50 day moving average is $158.75 and its 200 day moving average is $157.85.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, May 1st. The asset manager reported $3.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.18 by $0.03. The business had revenue of $544.30 million for the quarter, compared to the consensus estimate of $551.56 million. Affiliated Managers Group had a net margin of 22.31% and a return on equity of 17.53%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.94 earnings per share. On average, analysts anticipate that Affiliated Managers Group will post $14.50 EPS for the current fiscal year.

In related news, Director Dwight D. Churchill sold 3,277 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $163.30, for a total value of $535,134.10. Following the transaction, the director now directly owns 7,301 shares in the company, valued at $1,192,253.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Patrick T. Ryan sold 8,902 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $152.89, for a total transaction of $1,361,026.78. Following the completion of the transaction, the director now owns 10,342 shares in the company, valued at $1,581,188.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,107 shares of company stock worth $11,065,554. 1.40% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings Inc. boosted its position in shares of Affiliated Managers Group by 6.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 48,882 shares of the asset manager’s stock worth $8,014,000 after buying an additional 3,076 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Affiliated Managers Group by 44.9% in the first quarter. Bank of Montreal Can now owns 43,685 shares of the asset manager’s stock worth $7,161,000 after buying an additional 13,540 shares during the last quarter. Financial Architects Inc boosted its position in shares of Affiliated Managers Group by 5,340.0% in the first quarter. Financial Architects Inc now owns 816 shares of the asset manager’s stock worth $134,000 after buying an additional 801 shares during the last quarter. Highbridge Capital Management LLC boosted its position in shares of Affiliated Managers Group by 339.5% in the fourth quarter. Highbridge Capital Management LLC now owns 127,349 shares of the asset manager’s stock worth $18,503,000 after buying an additional 98,370 shares during the last quarter. Finally, Cullinan Associates Inc. acquired a new position in shares of Affiliated Managers Group during the first quarter worth approximately $1,139,000. Institutional investors and hedge funds own 94.62% of the company’s stock.

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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.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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