Affiliated Managers Group (NYSE:AMG) Price Target Cut to $168.00 by Analysts at TD Cowen

Affiliated Managers Group (NYSE:AMG) had its price target reduced by equities researchers at TD Cowen from $187.00 to $168.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. TD Cowen’s target price points to a potential upside of 12.48% from the stock’s previous close.

Several other analysts have also issued reports on AMG. The Goldman Sachs Group lowered shares of Affiliated Managers Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $193.00 to $191.00 in a research report on Monday, January 6th. Bank of America cut their price objective on shares of Affiliated Managers Group from $211.00 to $195.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Barrington Research lowered their target price on Affiliated Managers Group from $215.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, StockNews.com upgraded Affiliated Managers Group from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.40.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock traded up $6.02 during midday trading on Wednesday, reaching $149.37. 113,179 shares of the company traded hands, compared to its average volume of 237,085. Affiliated Managers Group has a 12 month low of $139.22 and a 12 month high of $199.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.13 and a quick ratio of 2.13. The business has a 50 day moving average of $167.66 and a two-hundred day moving average of $179.35. The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 0.57 and a beta of 1.09.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.03 by $0.50. Affiliated Managers Group had a return on equity of 16.17% and a net margin of 25.06%. As a group, research analysts predict that Affiliated Managers Group will post 22.86 earnings per share for the current year.

Hedge Funds Weigh In On Affiliated Managers Group

A number of hedge funds have recently made changes to their positions in AMG. World Investment Advisors LLC bought a new position in Affiliated Managers Group in the 3rd quarter worth approximately $2,592,000. Charles Schwab Investment Management Inc. boosted its position in shares of 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 worth $61,228,000 after acquiring an additional 2,264 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Affiliated Managers Group during the third quarter valued at $543,000. Empirical Asset Management LLC grew its stake 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 in the last quarter. Finally, Channing Capital Management LLC increased its holdings in Affiliated Managers Group by 5.5% in the 4th 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 last quarter. 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.