Affiliated Managers Group (NYSE:AMG) Rating Increased to Buy at Wall Street Zen

Affiliated Managers Group (NYSE:AMG) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

A number of other research firms have also commented on AMG. Barrington Research lifted their price target on shares of Affiliated Managers Group from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st. The Goldman Sachs Group upped their price target on shares of Affiliated Managers Group from $300.00 to $341.00 and gave the company a “buy” rating in a report on Tuesday, January 6th. Zacks Research downgraded Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $282.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $340.50.

Affiliated Managers Group Stock Performance

AMG opened at $313.24 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market cap of $8.81 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.58 and a beta of 1.19. The stock has a 50-day moving average of $292.83 and a 200-day moving average of $253.30. Affiliated Managers Group has a 52-week low of $139.22 and a 52-week high of $333.99.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, topping the consensus estimate of $5.88 by $0.22. The firm had revenue of $528.00 million during the quarter, compared to analyst estimates of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $4.82 EPS. As a group, equities research 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

A number of institutional investors have recently added to or reduced their stakes in the company. Boston Partners raised its holdings in Affiliated Managers Group by 2.1% in the 3rd quarter. Boston Partners now owns 1,157,344 shares of the asset manager’s stock valued at $275,957,000 after acquiring an additional 24,217 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Affiliated Managers Group by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 684,116 shares of the asset manager’s stock valued at $163,113,000 after purchasing an additional 7,891 shares during the period. LSV Asset Management increased its position in shares of Affiliated Managers Group by 0.7% during the third quarter. LSV Asset Management now owns 479,624 shares of the asset manager’s stock valued at $114,357,000 after purchasing an additional 3,400 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Affiliated Managers Group by 14.6% in the third quarter. Allianz Asset Management GmbH now owns 393,161 shares of the asset manager’s stock valued at $93,741,000 after purchasing an additional 50,219 shares in the last quarter. Finally, Norges Bank bought a new position in Affiliated Managers Group in the second quarter worth $71,779,000. 95.30% of the stock is owned by institutional investors and hedge funds.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.