Affiliated Managers Group (NYSE:AMG) Price Target Raised to $208.00

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

AMG has been the topic of a number of other research reports. Bank of America upped their target price on shares of Affiliated Managers Group from $200.00 to $201.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. StockNews.com downgraded shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Barrington Research lowered their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Affiliated Managers Group currently has a consensus rating of “Hold” and an average target price of $196.50.

Affiliated Managers Group Stock Performance

Shares of Affiliated Managers Group stock opened at $186.83 on Monday. The firm has a market cap of $5.57 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.18. The firm’s 50-day simple moving average is $182.02 and its 200-day simple moving average is $169.77. Affiliated Managers Group has a 1 year low of $131.34 and a 1 year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.02). The company had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.08 EPS. On average, equities analysts predict that Affiliated Managers Group will post 21.01 earnings per share for the current year.

Affiliated Managers Group Announces Dividend

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

Insiders Place Their Bets

In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the transaction, the insider now owns 128,457 shares in the company, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Affiliated Managers Group news, insider Rizwan M. Jamal sold 8,622 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $172.89, for a total value of $1,490,657.58. Following the completion of the transaction, the insider now owns 128,457 shares in the company, valued at approximately $22,208,930.73. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 377,276 shares of the company’s stock, valued at approximately $64,883,926.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,408 shares of company stock worth $3,865,068. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc boosted its holdings in shares of Affiliated Managers Group by 0.6% in the second quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock valued at $1,547,000 after acquiring an additional 60 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Affiliated Managers Group by 0.5% in the first quarter. Blair William & Co. IL now owns 12,924 shares of the asset manager’s stock valued at $2,164,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Affiliated Managers Group by 21.4% in the third quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock valued at $84,000 after acquiring an additional 83 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Affiliated Managers Group by 1.9% in the third quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock valued at $838,000 after acquiring an additional 90 shares in the last quarter. Finally, Kendall Capital Management boosted its holdings in shares of Affiliated Managers Group by 2.5% in the second quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock valued at $646,000 after acquiring an additional 100 shares in the last quarter. 95.30% of the stock is currently owned by institutional investors.

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.