Affiliated Managers Group (NYSE:AMG) Cut to Neutral at The Goldman Sachs Group

Affiliated Managers Group (NYSE:AMG) was downgraded by equities research analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Monday,Briefing.com Automated Import reports. They presently have a $191.00 target price on the asset manager’s stock, down from their previous target price of $193.00. The Goldman Sachs Group’s target price indicates a potential upside of 1.30% from the company’s previous close.

Several other brokerages have also recently issued reports on AMG. TD Cowen cut Affiliated Managers Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research dropped their price target on Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $195.40.

Affiliated Managers Group Trading Up 0.9 %

AMG opened at $188.55 on Monday. Affiliated Managers Group has a 12 month low of $145.36 and a 12 month high of $199.52. The stock has a 50-day moving average of $186.58 and a 200 day moving average of $177.34. The firm has a market cap of $5.70 billion, a P/E ratio of 12.30, a P/E/G ratio of 0.69 and a beta of 1.15.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data 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 firm had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same quarter last year, the firm earned $4.08 EPS. The company’s revenue was up 1.7% on a year-over-year basis. On average, research analysts forecast that Affiliated Managers Group will post 20.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC increased its holdings in Affiliated Managers Group by 3.0% in the 2nd quarter. Natixis Advisors LLC now owns 12,473 shares of the asset manager’s stock worth $1,949,000 after buying an additional 368 shares during the period. National Bank of Canada FI boosted its holdings in Affiliated Managers Group by 34.2% in the second quarter. National Bank of Canada FI now owns 3,157 shares of the asset manager’s stock valued at $489,000 after purchasing an additional 805 shares during the last quarter. Victory Capital Management Inc. grew its position in Affiliated Managers Group by 150.1% during the 2nd quarter. Victory Capital Management Inc. now owns 99,407 shares of the asset manager’s stock worth $15,530,000 after purchasing an additional 59,659 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Affiliated Managers Group by 12.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 58,659 shares of the asset manager’s stock valued at $9,164,000 after buying an additional 6,616 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of Affiliated Managers Group by 0.8% during the 2nd quarter. LSV Asset Management now owns 240,504 shares of the asset manager’s stock worth $37,574,000 after purchasing an additional 2,000 shares during the period. 95.30% of the stock is currently owned by hedge funds and other 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.