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

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

A number of other analysts have also commented on the company. TD Cowen restated a “buy” rating and issued a $454.00 price target on shares of Affiliated Managers Group in a report on Wednesday, May 13th. Barrington Research reiterated an “outperform” rating and set a $365.00 price objective on shares of Affiliated Managers Group in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $400.00 target price on shares of Affiliated Managers Group in a research report on Monday, May 4th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $405.00 target price on shares of Affiliated Managers Group in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Affiliated Managers Group has a consensus rating of “Moderate Buy” and an average price target of $362.29.

Affiliated Managers Group Trading Up 0.2%

AMG opened at $353.52 on Friday. The stock has a market capitalization of $9.34 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.60 and a beta of 1.13. Affiliated Managers Group has a 12 month low of $180.88 and a 12 month high of $363.89. The firm’s fifty day simple moving average is $310.55 and its 200 day simple moving average is $300.01. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.73.

Affiliated Managers Group (NYSE:AMG) last announced its earnings results on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The firm had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $5.37 EPS. As a group, research analysts anticipate that Affiliated Managers Group will post 34.71 EPS for the current fiscal year.

Insider Transactions at Affiliated Managers Group

In other news, Director G. Staley Cates purchased 1,500 shares of Affiliated Managers Group stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $305.83 per share, for a total transaction of $458,745.00. Following the purchase, the director directly owned 6,405 shares of the company’s stock, valued at $1,958,841.15. This trade represents a 30.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Christopher Ryan sold 3,402 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total value of $1,037,814.12. Following the completion of the transaction, the director directly owned 1,092 shares in the company, valued at approximately $333,125.52. This represents a 75.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 21,902 shares of company stock worth $7,257,719. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors have recently modified their holdings of the business. Leonteq Securities AG acquired a new position in shares of Affiliated Managers Group in the fourth quarter valued at about $30,000. Caitong International Asset Management Co. Ltd bought a new position in Affiliated Managers Group during the fourth quarter worth about $42,000. EverSource Wealth Advisors LLC raised its stake in Affiliated Managers Group by 45.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after purchasing an additional 56 shares in the last quarter. Arax Advisory Partners raised its stake in Affiliated Managers Group by 94.1% in the 4th quarter. Arax Advisory Partners now owns 198 shares of the asset manager’s stock worth $57,000 after purchasing an additional 96 shares in the last quarter. Finally, WealthCollab LLC boosted its holdings in Affiliated Managers Group by 40.5% in the 1st quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock valued at $63,000 after purchasing an additional 66 shares during the period. Institutional investors own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

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.