Affiliated Managers Group (NYSE:AMG) Given New $198.00 Price Target at TD Cowen

Affiliated Managers Group (NYSE:AMG) had its price objective dropped by TD Cowen from $218.00 to $198.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. TD Cowen’s price objective would indicate a potential upside of 25.60% from the company’s previous close.

Separately, Barrington Research reissued an “outperform” rating and set a $190.00 target price on shares of Affiliated Managers Group in a research note on Tuesday.

Affiliated Managers Group Price Performance

Shares of NYSE AMG traded up $0.41 during midday trading on Tuesday, hitting $157.64. 199,432 shares of the company’s stock were exchanged, compared to its average volume of 244,105. The stock’s 50 day moving average price is $161.53 and its 200-day moving average price is $149.78. The firm has a market cap of $5.12 billion, a P/E ratio of 9.09, a PEG ratio of 0.56 and a beta of 1.31. Affiliated Managers Group has a twelve month low of $120.22 and a twelve month high of $169.65.

Affiliated Managers Group (NYSE:AMG) last released its earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.21 by $0.16. The firm had revenue of $499.90 million during the quarter, compared to the consensus estimate of $524.53 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. During the same period in the prior year, the firm posted $4.18 earnings per share. On average, analysts expect that Affiliated Managers Group will post 22.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors have recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its holdings in Affiliated Managers Group by 80.0% during the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Denali Advisors LLC boosted its holdings in Affiliated Managers Group by 429.2% during the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock valued at $43,000 after purchasing an additional 206 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Affiliated Managers Group during the fourth quarter valued at approximately $62,000. Quadrant Capital Group LLC boosted its holdings in Affiliated Managers Group by 45.6% during the fourth quarter. Quadrant Capital Group LLC now owns 591 shares of the asset manager’s stock valued at $89,000 after purchasing an additional 185 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Affiliated Managers Group by 17.1% during the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after purchasing an additional 90 shares in the last quarter. 95.30% of the stock is owned by institutional investors and hedge funds.

About Affiliated Managers Group

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.