Affiliated Managers Group (NYSE:AMG) Raised to “Buy” at StockNews.com

Affiliated Managers Group (NYSE:AMG) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other equities analysts have also recently commented on AMG. Barrington Research boosted their price target on shares of Affiliated Managers Group from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday. The Goldman Sachs Group cut shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $193.00 to $191.00 in a report on Monday, January 6th. TD Cowen cut shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Affiliated Managers Group currently has an average rating of “Moderate Buy” and an average target price of $198.40.

Affiliated Managers Group Price Performance

NYSE AMG traded down $4.13 on Friday, hitting $178.61. 196,936 shares of the stock were exchanged, compared to its average volume of 197,641. Affiliated Managers Group has a 52-week low of $147.13 and a 52-week high of $199.52. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 0.69 and a beta of 1.15. The company’s 50-day moving average price is $185.03 and its two-hundred day moving average price is $181.16.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, February 6th. The asset manager reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Equities analysts predict that Affiliated Managers Group will post 20.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

Several institutional investors and hedge funds have recently modified their holdings of AMG. Channing Capital Management LLC boosted its holdings 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 valued at $95,156,000 after acquiring an additional 26,654 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Affiliated Managers Group by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 331,106 shares of the asset manager’s stock valued at $61,228,000 after acquiring an additional 2,264 shares during the period. New York State Common Retirement Fund boosted its holdings in Affiliated Managers Group by 4.0% during the fourth quarter. New York State Common Retirement Fund now owns 192,524 shares of the asset manager’s stock valued at $35,602,000 after acquiring an additional 7,377 shares during the period. Empirical Asset Management LLC boosted its holdings in Affiliated Managers Group by 10,522.8% during the fourth quarter. Empirical Asset Management LLC now owns 190,360 shares of the asset manager’s stock valued at $347,000 after acquiring an additional 188,568 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Affiliated Managers Group by 84.3% during the fourth quarter. Fisher Asset Management LLC now owns 156,210 shares of the asset manager’s stock valued at $28,886,000 after acquiring an additional 71,458 shares during the period. Institutional investors and hedge funds 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.