Affiliated Managers Group (NYSE:AMG) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Friday, The Fly reports.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a research report on Tuesday, January 9th. Jefferies Group restated a “buy” rating and set a $226.00 price objective on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $229.00 price objective on shares of Affiliated Managers Group in a research report on Thursday, October 12th. Credit Suisse Group restated a “hold” rating and set a $215.00 price objective on shares of Affiliated Managers Group in a research report on Friday, January 12th. Finally, Goldman Sachs Group downgraded Affiliated Managers Group from a “buy” rating to a “neutral” rating and set a $216.00 price objective on the stock. in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $211.00.
Shares of Affiliated Managers Group (NYSE:AMG) traded down $2.36 during mid-day trading on Friday, reaching $205.32. The company’s stock had a trading volume of 216,500 shares, compared to its average volume of 289,675. Affiliated Managers Group has a fifty-two week low of $140.75 and a fifty-two week high of $208.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market capitalization of $11,543.25, a P/E ratio of 22.22, a PEG ratio of 0.74 and a beta of 1.71.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Monday, October 30th. The asset manager reported $3.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.36 by $0.05. Affiliated Managers Group had a return on equity of 17.63% and a net margin of 23.29%. The business had revenue of $585.70 million for the quarter, compared to the consensus estimate of $586.55 million. During the same period in the prior year, the business posted $3.02 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. equities research analysts expect that Affiliated Managers Group will post 14.48 earnings per share for the current fiscal year.
In other news, insider Peter W. Macewen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the transaction, the insider now owns 37,682 shares of the company’s stock, valued at $7,448,600.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sean M. Healey sold 69,800 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $185.48, for a total value of $12,946,504.00. Following the transaction, the chief executive officer now directly owns 194,943 shares in the company, valued at approximately $36,158,027.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,585 shares of company stock worth $16,734,012. Insiders own 1.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Tributary Capital Management LLC bought a new position in Affiliated Managers Group in the third quarter worth approximately $100,000. Advisor Group Inc. grew its stake in Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after purchasing an additional 228 shares in the last quarter. Gofen & Glossberg LLC IL bought a new position in Affiliated Managers Group in the fourth quarter worth approximately $206,000. First Citizens Bank & Trust Co. bought a new position in Affiliated Managers Group in the fourth quarter worth approximately $214,000. Finally, Douglas Lane & Associates LLC bought a new position in Affiliated Managers Group in the third quarter worth approximately $200,000. 95.52% of the stock is currently owned by institutional investors.
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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.