Affiliated Managers Group, Inc. (AMG) Earns “Buy” Rating from Jefferies Group LLC
Affiliated Managers Group, Inc. (NYSE:AMG)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a report issued on Friday. They presently have a $200.00 price objective on the asset manager’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 15.61% from the company’s previous close.
A number of other equities analysts have also recently issued reports on AMG. BidaskClub cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $215.00 target price on shares of Affiliated Managers Group in a report on Thursday, August 3rd. Credit Suisse Group upped their target price on Affiliated Managers Group from $205.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. Zacks Investment Research cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. Finally, ValuEngine raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $195.50.
Affiliated Managers Group (NYSE:AMG) traded up 0.02% during trading on Friday, reaching $173.04. The company had a trading volume of 115,004 shares. Affiliated Managers Group has a 12-month low of $130.48 and a 12-month high of $187.08. The firm has a market capitalization of $9.68 billion, a PE ratio of 19.17 and a beta of 1.65. The firm’s 50 day moving average price is $176.46 and its 200 day moving average price is $165.10.
Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, July 31st. The asset manager reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $0.09. Affiliated Managers Group had a return on equity of 17.45% and a net margin of 22.99%. The business had revenue of $570.90 million during the quarter, compared to analysts’ expectations of $573.73 million. During the same quarter in the prior year, the firm earned $3.07 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that Affiliated Managers Group will post $14.55 earnings per share for the current year.
In other Affiliated Managers Group news, Director Dwight D. Churchill sold 3,277 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $163.30, for a total value of $535,134.10. Following the sale, the director now owns 7,301 shares in the company, valued at approximately $1,192,253.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean M. Healey sold 56,928 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $161.07, for a total value of $9,169,392.96. Following the completion of the sale, the chief executive officer now owns 206,689 shares in the company, valued at approximately $33,291,397.23. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. raised its stake in Affiliated Managers Group by 0.4% in the first quarter. OppenheimerFunds Inc. now owns 1,935 shares of the asset manager’s stock worth $317,000 after buying an additional 7 shares during the period. Stephens Inc. AR raised its stake in Affiliated Managers Group by 0.4% in the second quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock worth $373,000 after buying an additional 9 shares during the period. Duncker Streett & Co. Inc. raised its stake in Affiliated Managers Group by 0.6% in the first quarter. Duncker Streett & Co. Inc. now owns 1,700 shares of the asset manager’s stock worth $279,000 after buying an additional 10 shares during the period. Contravisory Investment Management Inc. raised its stake in Affiliated Managers Group by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 1,621 shares of the asset manager’s stock worth $269,000 after buying an additional 11 shares during the period. Finally, Wetherby Asset Management Inc. raised its stake in Affiliated Managers Group by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 2,319 shares of the asset manager’s stock worth $380,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 95.29% 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. 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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