Affiliated Managers Group (NYSE:AMG) PT Raised to $205.00

Affiliated Managers Group (NYSE:AMG) had its price objective hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from $202.00 to $205.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 19.51% from the company’s current price.

A number of other equities research analysts have also recently commented on AMG. Barrington Research increased their target price on Affiliated Managers Group from $190.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, July 29th. TD Cowen increased their target price on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. StockNews.com cut Affiliated Managers Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. Finally, Bank of America increased their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average price target of $199.80.

Affiliated Managers Group Stock Up 2.4 %

Shares of AMG traded up $4.00 on Thursday, reaching $171.54. The stock had a trading volume of 65,465 shares, compared to its average volume of 261,929. The firm has a market capitalization of $5.47 billion, a PE ratio of 9.51, a PEG ratio of 0.62 and a beta of 1.22. The firm has a 50-day moving average of $162.87 and a 200 day moving average of $160.60. Affiliated Managers Group has a twelve month low of $120.22 and a twelve month high of $189.81.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.60 by $0.07. The business had revenue of $500.30 million for the quarter, compared to analysts’ expectations of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.45 EPS. On average, sell-side analysts anticipate that Affiliated Managers Group will post 21.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds have recently made changes to their positions in AMG. Lighthouse Investment Partners LLC purchased a new position in shares of Affiliated Managers Group in the 2nd quarter worth $311,000. Mackenzie Financial Corp raised its position in shares of Affiliated Managers Group by 22.9% in the 2nd quarter. Mackenzie Financial Corp now owns 5,679 shares of the asset manager’s stock worth $887,000 after buying an additional 1,059 shares during the period. Millennium Management LLC raised its position in shares of Affiliated Managers Group by 7.9% in the 2nd quarter. Millennium Management LLC now owns 104,297 shares of the asset manager’s stock worth $16,294,000 after buying an additional 7,613 shares during the period. Ariel Investments LLC raised its position in shares of Affiliated Managers Group by 8.7% in the 2nd quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after buying an additional 115,808 shares during the period. Finally, Alpha DNA Investment Management LLC purchased a new position in shares of Affiliated Managers Group in the 2nd quarter worth $302,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

Affiliated Managers Group Company Profile

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.