Bank of America Lowers Affiliated Managers Group (NYSE:AMG) Price Target to $195.00

Affiliated Managers Group (NYSE:AMG) had its target price reduced by investment analysts at Bank of America from $211.00 to $195.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Bank of America‘s price target indicates a potential upside of 12.73% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. StockNews.com raised Affiliated Managers Group from a “hold” rating to a “buy” rating in a report on Friday, February 7th. The Goldman Sachs Group downgraded shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $193.00 to $191.00 in a report on Monday, January 6th. Finally, Barrington Research raised their target price on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.20.

Affiliated Managers Group Stock Performance

Shares of NYSE AMG opened at $172.98 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. Affiliated Managers Group has a 1 year low of $147.13 and a 1 year high of $199.52. The firm has a fifty day moving average price of $171.61 and a 200-day moving average price of $180.36. The stock has a market cap of $5.06 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.57 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. Equities analysts anticipate that Affiliated Managers Group will post 22.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Affiliated Managers Group by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 3,211,846 shares of the asset manager’s stock worth $593,935,000 after buying an additional 31,343 shares during the last quarter. Boston Partners increased its stake in Affiliated Managers Group by 46.1% during the fourth quarter. Boston Partners now owns 1,184,130 shares of the asset manager’s stock worth $218,975,000 after acquiring an additional 373,696 shares during the last quarter. Channing Capital Management LLC increased its stake in Affiliated Managers Group by 5.5% during the fourth quarter. Channing Capital Management LLC now owns 514,580 shares of the asset manager’s stock worth $95,156,000 after acquiring an additional 26,654 shares during the last quarter. LSV Asset Management raised its position in Affiliated Managers Group by 79.1% during the fourth quarter. LSV Asset Management now owns 423,994 shares of the asset manager’s stock valued at $78,405,000 after purchasing an additional 187,290 shares during the period. Finally, Norges Bank bought a new stake in shares of Affiliated Managers Group in the 4th quarter valued at approximately $68,683,000. Hedge funds and other 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.