Wall Street Zen Upgrades Affiliated Managers Group (NYSE:AMG) to Strong-Buy

Affiliated Managers Group (NYSE:AMG) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other equities research analysts have also commented on the stock. TD Cowen reissued a “buy” rating on shares of Affiliated Managers Group in a report on Wednesday, January 14th. The Goldman Sachs Group lifted their price objective on Affiliated Managers Group from $300.00 to $341.00 and gave the stock a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, January 21st. Jefferies Financial Group reiterated a “buy” rating and issued a $282.00 target price on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Finally, Zacks Research downgraded shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Affiliated Managers Group has an average rating of “Moderate Buy” and a consensus price target of $350.14.

Affiliated Managers Group Price Performance

NYSE:AMG opened at $287.58 on Friday. Affiliated Managers Group has a 1-year low of $139.22 and a 1-year high of $334.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.34 and a quick ratio of 1.30. The company has a 50 day moving average price of $305.75 and a 200-day moving average price of $264.18. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 0.54 and a beta of 1.21.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Thursday, February 12th. The asset manager reported $9.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.75 by $0.73. The business had revenue of $556.60 million for the quarter, compared to analyst estimates of $578.54 million. Affiliated Managers Group had a net margin of 34.55% and a return on equity of 18.45%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $6.53 EPS. Equities research analysts forecast that Affiliated Managers Group will post 22.86 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC increased its stake in Affiliated Managers Group by 310.2% during the fourth quarter. Corient Private Wealth LLC now owns 37,656 shares of the asset manager’s stock worth $10,855,000 after acquiring an additional 28,476 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Affiliated Managers Group by 4.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 2,792 shares of the asset manager’s stock valued at $805,000 after buying an additional 123 shares during the period. State of Tennessee Department of Treasury lifted its position in Affiliated Managers Group by 2.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 11,610 shares of the asset manager’s stock valued at $3,635,000 after buying an additional 257 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Affiliated Managers Group during the fourth quarter worth about $862,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in Affiliated Managers Group by 20.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 685,588 shares of the asset manager’s stock valued at $197,641,000 after purchasing an additional 115,313 shares during the period. 95.30% of the stock is currently 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.