Affiliated Managers Group (NYSE:AMG) Given New $204.00 Price Target at Deutsche Bank Aktiengesellschaft

Affiliated Managers Group (NYSE:AMG) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $219.00 to $204.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

Several other analysts have also commented on the stock. Barrington Research reissued an “outperform” rating and set a $210.00 target price on shares of Affiliated Managers Group in a research note on Wednesday, October 30th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday. StockNews.com lowered Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Bank of America increased their price target on Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Affiliated Managers Group has an average rating of “Hold” and a consensus price target of $195.50.

Affiliated Managers Group Trading Up 0.3 %

Affiliated Managers Group stock opened at $177.65 on Tuesday. Affiliated Managers Group has a 52 week low of $129.57 and a 52 week high of $199.52. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 10.43, a PEG ratio of 0.62 and a beta of 1.18. The company’s 50-day moving average price is $180.43 and its two-hundred day moving average price is $168.81.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. The business had revenue of $525.20 million during the quarter, compared to the consensus estimate of $521.87 million. During the same quarter last year, the firm posted $4.08 earnings per share. Affiliated Managers Group’s revenue was up 1.7% compared to the same quarter last year. Research analysts expect that Affiliated Managers Group will post 22.02 earnings per share for the current fiscal year.

Affiliated Managers Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, November 14th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s payout ratio is currently 0.23%.

Insider Activity

In related news, COO Thomas M. Wojcik sold 4,786 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $172.71, for a total value of $826,590.06. Following the completion of the sale, the chief operating officer now directly owns 84,392 shares of the company’s stock, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the transaction, the chief executive officer now directly owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Thomas M. Wojcik sold 4,786 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.71, for a total transaction of $826,590.06. Following the completion of the transaction, the chief operating officer now owns 84,392 shares in the company, valued at approximately $14,575,342.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,408 shares of company stock worth $3,865,068. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affiliated Managers Group

Several institutional investors and hedge funds have recently modified their holdings of AMG. Ariel Investments LLC raised its holdings in shares of Affiliated Managers Group by 8.7% during the second quarter. Ariel Investments LLC now owns 1,442,817 shares of the asset manager’s stock worth $225,411,000 after acquiring an additional 115,808 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Affiliated Managers Group by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,123 shares of the asset manager’s stock worth $129,065,000 after purchasing an additional 30,059 shares in the last quarter. LSV Asset Management grew its stake in shares of Affiliated Managers Group by 0.8% in the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock valued at $37,574,000 after buying an additional 2,000 shares in the last quarter. Raymond James & Associates increased its stake in shares of Affiliated Managers Group by 9.6% during the 2nd quarter. Raymond James & Associates now owns 234,647 shares of the asset manager’s stock worth $36,659,000 after purchasing an additional 20,514 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Affiliated Managers Group by 6.7% in the 3rd quarter. New York State Common Retirement Fund now owns 185,147 shares of the asset manager’s stock valued at $32,919,000 after purchasing an additional 11,565 shares during the last quarter. 95.30% of the stock is currently owned by hedge funds and other institutional investors.

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.