Affiliated Managers Group (NYSE:AMG) Raised to “Buy” at StockNews.com

Affiliated Managers Group (NYSE:AMG) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

Other research analysts have also issued reports about the company. Barrington Research raised their price objective on Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group lowered Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $193.00 to $191.00 in a research report on Monday, January 6th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $198.40.

Affiliated Managers Group Stock Down 2.3 %

Shares of NYSE AMG traded down $4.13 during trading on Friday, hitting $178.61. 196,936 shares of the company traded hands, compared to its average volume of 197,641. The firm has a market capitalization of $5.40 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.69 and a beta of 1.15. The company has a 50-day moving average price of $185.03 and a 200-day moving average price of $181.16. Affiliated Managers Group has a 1 year low of $147.13 and a 1 year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. Research analysts predict that Affiliated Managers Group will post 20.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

Hedge funds have recently made changes to their positions in the business. Empirical Asset Management LLC raised its holdings in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock worth $347,000 after purchasing an additional 188,568 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Affiliated Managers Group in the fourth quarter valued at $28,818,000. Goodman Financial Corp bought a new position in shares of Affiliated Managers Group in the third quarter valued at $14,035,000. Fisher Asset Management LLC increased its holdings in shares of Affiliated Managers Group by 84.3% in the fourth quarter. Fisher Asset Management LLC now owns 156,210 shares of the asset manager’s stock valued at $28,886,000 after buying an additional 71,458 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Affiliated Managers Group in the fourth quarter valued at $13,135,000. Institutional investors 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.