Affiliated Managers Group (NYSE:AMG) Given New $208.00 Price Target at Deutsche Bank Aktiengesellschaft

Affiliated Managers Group (NYSE:AMG) had its target price boosted by Deutsche Bank Aktiengesellschaft from $204.00 to $208.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the asset manager’s stock.

Other equities research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Bank of America raised their price objective on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Barrington Research reduced 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 dropped their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Affiliated Managers Group currently has an average rating of “Hold” and an average price target of $196.50.

Affiliated Managers Group Trading Up 0.2 %

AMG stock opened at $187.20 on Monday. Affiliated Managers Group has a 1-year low of $131.34 and a 1-year high of $199.52. The business’s 50 day moving average is $182.40 and its 200-day moving average is $169.89. The firm has a market cap of $5.58 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.67 and a beta of 1.18.

Affiliated Managers Group (NYSE:AMG) last announced 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). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company 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 company earned $4.08 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that Affiliated Managers Group will post 21.01 EPS for the current year.

Affiliated Managers Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 14th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date is Thursday, November 14th. Affiliated Managers Group’s dividend payout ratio is presently 0.26%.

Insider Activity

In other Affiliated Managers Group news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was 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 owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This represents a 2.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds and other institutional investors have recently made changes to their positions in AMG. Lazard Asset Management LLC increased its position in Affiliated Managers Group by 87.1% in the first quarter. Lazard Asset Management LLC now owns 18,536 shares of the asset manager’s stock worth $3,103,000 after purchasing an additional 8,628 shares during the period. Diversified Trust Co bought a new position in shares of Affiliated Managers Group in the 2nd quarter valued at about $1,293,000. Sei Investments Co. raised its stake in shares of Affiliated Managers Group by 40.8% during the first quarter. Sei Investments Co. now owns 48,185 shares of the asset manager’s stock worth $8,069,000 after buying an additional 13,968 shares during the last quarter. Foundry Partners LLC acquired a new position in Affiliated Managers Group in the second quarter valued at approximately $574,000. Finally, XTX Topco Ltd grew its holdings in Affiliated Managers Group by 178.9% during the 2nd quarter. XTX Topco Ltd now owns 5,269 shares of the asset manager’s stock worth $823,000 after acquiring an additional 3,380 shares during the period. 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.