Affiliated Managers Group (NYSE:AMG) Downgraded to “Hold” Rating by Wall Street Zen

Affiliated Managers Group (NYSE:AMG) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other equities analysts have also recently issued reports about the company. TD Cowen decreased their price objective on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a report on Wednesday, April 9th. Cowen reissued a “hold” rating on shares of Affiliated Managers Group in a report on Wednesday, May 14th. Bank of America decreased their price objective on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group raised Affiliated Managers Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $197.00 to $218.00 in a report on Friday. Finally, Barrington Research reduced their price target on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $197.80.

Affiliated Managers Group Trading Up 2.8%

Shares of NYSE AMG opened at $197.61 on Friday. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.66 and a beta of 1.08. Affiliated Managers Group has a 1-year low of $139.22 and a 1-year high of $199.52. The stock’s 50-day moving average is $177.59 and its 200 day moving average is $174.72.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings data on Thursday, May 8th. The asset manager reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.10. The company had revenue of $496.60 million for the quarter, compared to analysts’ expectations of $508.00 million. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. During the same period last year, the firm posted $5.37 EPS. On average, analysts forecast that Affiliated Managers Group will post 22.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors and hedge funds have recently bought and sold shares of AMG. Jones Financial Companies Lllp grew its position in shares of Affiliated Managers Group by 79.5% in the 4th quarter. Jones Financial Companies Lllp now owns 140 shares of the asset manager’s stock worth $26,000 after buying an additional 62 shares during the last quarter. Millstone Evans Group LLC grew its position in shares of Affiliated Managers Group by 154.5% in the 1st quarter. Millstone Evans Group LLC now owns 168 shares of the asset manager’s stock worth $28,000 after buying an additional 102 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Affiliated Managers Group by 70.8% in the 1st quarter. Versant Capital Management Inc now owns 181 shares of the asset manager’s stock worth $30,000 after buying an additional 75 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Affiliated Managers Group in the 1st quarter worth approximately $36,000. Finally, Private Trust Co. NA grew its position in shares of Affiliated Managers Group by 131.9% in the 4th quarter. Private Trust Co. NA now owns 218 shares of the asset manager’s stock worth $40,000 after buying an additional 124 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.