Affiliated Managers Group, Inc. (NYSE:AMG) Given Average Recommendation of “Moderate Buy” by Analysts

Affiliated Managers Group, Inc. (NYSE:AMG) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $340.50.

Several research firms recently weighed in on AMG. TD Cowen reiterated a “buy” rating on shares of Affiliated Managers Group in a research report on Wednesday, January 14th. Barrington Research raised their price objective on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 4th. UBS Group set a $295.00 price objective on Affiliated Managers Group in a research note on Tuesday, November 4th. Jefferies Financial Group reissued a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a report on Wednesday, January 21st.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Affiliated Managers Group by 1.3% during the first quarter. Goldman Sachs Group Inc. now owns 113,353 shares of the asset manager’s stock valued at $19,047,000 after acquiring an additional 1,428 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Affiliated Managers Group by 4.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 141,733 shares of the asset manager’s stock worth $23,815,000 after purchasing an additional 6,262 shares in the last quarter. Jane Street Group LLC bought a new stake in Affiliated Managers Group during the 1st quarter valued at approximately $1,947,000. Truist Financial Corp raised its stake in Affiliated Managers Group by 6.1% during the 2nd quarter. Truist Financial Corp now owns 2,409 shares of the asset manager’s stock valued at $474,000 after purchasing an additional 139 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its holdings in Affiliated Managers Group by 6.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the asset manager’s stock worth $1,948,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Trading Down 0.1%

Shares of Affiliated Managers Group stock opened at $305.31 on Tuesday. Affiliated Managers Group has a 1-year low of $139.22 and a 1-year high of $333.99. The company’s fifty day simple moving average is $297.74 and its 200-day simple moving average is $258.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $8.59 billion, a PE ratio of 18.18, a P/E/G ratio of 0.57 and a beta of 1.21.

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.