Affiliated Managers Group (NYSE:AMG) PT Raised to $205.00

Affiliated Managers Group (NYSE:AMG) had its target price lifted by equities research analysts at Deutsche Bank Aktiengesellschaft from $202.00 to $205.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 19.51% from the company’s previous close.

AMG has been the subject of several other research reports. TD Cowen raised their price objective on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Barrington Research raised their price objective on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, 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 research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and an average target price of $199.80.

Affiliated Managers Group Trading Up 2.4 %

Shares of NYSE:AMG traded up $4.00 during trading on Thursday, reaching $171.54. The company’s stock had a trading volume of 65,465 shares, compared to its average volume of 261,929. Affiliated Managers Group has a 12 month low of $120.22 and a 12 month high of $189.81. The firm’s 50 day simple moving average is $162.87 and its two-hundred day simple moving average is $160.60. The stock has a market capitalization of $5.47 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last announced its quarterly earnings results on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The firm had revenue of $500.30 million during the quarter, compared to the consensus estimate of $518.03 million. Affiliated Managers Group had a net margin of 31.51% and a return on equity of 16.50%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $4.45 EPS. Research analysts anticipate that Affiliated Managers Group will post 21.82 EPS for the current fiscal year.

Institutional Trading of Affiliated Managers Group

Several institutional investors and hedge funds have recently modified their holdings of AMG. Lindbrook Capital LLC increased its holdings in Affiliated Managers Group by 80.0% during the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after buying an additional 72 shares during the period. Altshuler Shaham Ltd purchased a new position in Affiliated Managers Group in the second quarter worth $28,000. Denali Advisors LLC grew its holdings in Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after purchasing an additional 206 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in Affiliated Managers Group in the second quarter worth $47,000. Finally, GAMMA Investing LLC purchased a new position in Affiliated Managers Group in the fourth quarter worth $62,000. Institutional investors own 95.30% of the company’s stock.

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.