Affiliated Managers Group (NYSE:AMG) Downgraded by The Goldman Sachs Group to “Neutral”

The Goldman Sachs Group cut shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a neutral rating in a research note released on Monday, Marketbeat reports. The Goldman Sachs Group currently has $191.00 target price on the asset manager’s stock, down from their previous target price of $193.00.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Barrington Research dropped their target price on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $195.40.

Affiliated Managers Group Trading Up 0.1 %

AMG stock opened at $180.63 on Monday. The company has a market capitalization of $5.46 billion, a P/E ratio of 11.78, a PEG ratio of 0.69 and a beta of 1.15. The business has a 50 day simple moving average of $185.76 and a 200-day simple moving average of $177.73. Affiliated Managers Group has a twelve month low of $145.36 and a twelve month high of $199.52.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a return on equity of 16.76% and a net margin of 27.02%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.08 EPS. Research analysts predict that Affiliated Managers Group will post 20.91 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 14th were paid a $0.01 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. Affiliated Managers Group’s dividend payout ratio (DPR) is presently 0.26%.

Hedge Funds Weigh In On Affiliated Managers Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Natixis Advisors LLC grew its position in Affiliated Managers Group by 3.0% during the second quarter. Natixis Advisors LLC now owns 12,473 shares of the asset manager’s stock worth $1,949,000 after buying an additional 368 shares during the period. National Bank of Canada FI increased its stake in Affiliated Managers Group by 34.2% in the 2nd quarter. National Bank of Canada FI now owns 3,157 shares of the asset manager’s stock valued at $489,000 after purchasing an additional 805 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Affiliated Managers Group by 150.1% during the second quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after purchasing an additional 59,659 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Affiliated Managers Group by 12.7% during the second quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager’s stock worth $9,164,000 after purchasing an additional 6,616 shares during the last quarter. Finally, LSV Asset Management boosted its position in Affiliated Managers Group by 0.8% during the second quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after purchasing an additional 2,000 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.