Affiliated Managers Group (NYSE:AMG – Get Free Report) was upgraded by investment analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm currently has a $218.00 price target on the asset manager’s stock, up from their prior price target of $197.00. The Goldman Sachs Group’s target price suggests a potential upside of 10.32% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Wall Street Zen upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 31st. Cowen reiterated a “hold” rating on shares of Affiliated Managers Group in a research report on Wednesday, May 14th. 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. TD Cowen cut their target price on Affiliated Managers Group from $187.00 to $168.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Finally, Bank of America cut their target price on Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group presently has an average rating of “Hold” and a consensus target price of $197.80.
Affiliated Managers Group Trading Up 2.8%
Affiliated Managers Group (NYSE:AMG – Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The asset manager reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.10. Affiliated Managers Group had a return on equity of 15.91% and a net margin of 21.31%. The firm had revenue of $496.60 million for the quarter, compared to analyst estimates of $508.00 million. During the same quarter in the previous year, the company posted $5.37 EPS. As a group, analysts forecast that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Affiliated Managers Group
Several institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its position in shares of Affiliated Managers Group by 0.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,147 shares of the asset manager’s stock valued at $1,137,000 after purchasing an additional 55 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Affiliated Managers Group by 79.5% during 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 period. Redwood Investment Management LLC raised its stake in Affiliated Managers Group by 0.9% during the 1st quarter. Redwood Investment Management LLC now owns 7,775 shares of the asset manager’s stock worth $1,306,000 after buying an additional 69 shares during the period. Cetera Investment Advisers raised its stake in Affiliated Managers Group by 2.5% during the 4th quarter. Cetera Investment Advisers now owns 2,898 shares of the asset manager’s stock worth $536,000 after buying an additional 70 shares during the period. Finally, Parallel Advisors LLC raised its stake in Affiliated Managers Group by 6.8% during the 1st quarter. Parallel Advisors LLC now owns 1,170 shares of the asset manager’s stock worth $197,000 after buying an additional 75 shares during the period. Institutional investors own 95.30% of the company’s stock.
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.
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