Affiliated Managers Group (NYSE:AMG) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Affiliated Managers Group (NYSE:AMG) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded Affiliated Managers Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday. Zacks Research cut Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Barrington Research boosted their target price on Affiliated Managers Group from $425.00 to $455.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, TD Cowen increased their target price on shares of Affiliated Managers Group from $523.00 to $583.00 and gave the stock a “buy” rating in a report on Tuesday, November 10th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $460.75.

Affiliated Managers Group Price Performance

NYSE AMG traded up $1.60 on Friday, hitting $395.05. 164,575 shares of the company’s stock were exchanged, compared to its average volume of 355,580. The stock has a 50-day moving average of $374.79 and a 200-day moving average of $335.78. The company has a current ratio of 1.20, a quick ratio of 1.24 and a debt-to-equity ratio of 0.86. Affiliated Managers Group has a 52 week low of $246.11 and a 52 week high of $408.07. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.47 and a beta of 1.05.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, November 9th. The asset manager reported $9.50 earnings per share for the quarter, beating analysts’ consensus estimates of $8.79 by $0.71. Affiliated Managers Group had a return on equity of 24.44% and a net margin of 34.96%. The firm had revenue of $595.20 million for the quarter, compared to the consensus estimate of $655.08 million. During the same quarter last year, the business posted $6.10 EPS. The company’s revenue was up .0% compared to the same quarter last year. Analysts expect that Affiliated Managers Group will post 37.63 earnings per share for the current year.

Affiliated Managers Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, November 19th. Affiliated Managers Group’s payout ratio is presently 0.14%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMG. BlackRock Inc. acquired a new stake in shares of Affiliated Managers Group during the 2nd quarter valued at $938,294,000. Dimensional Fund Advisors LP increased its holdings in Affiliated Managers Group by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock worth $198,746,000 after purchasing an additional 18,865 shares in the last quarter. Bank of America Corp DE bought a new position in Affiliated Managers Group in the second quarter valued at about $146,331,000. Bank of New York Mellon Corp raised its position in Affiliated Managers Group by 21.5% in the first quarter. Bank of New York Mellon Corp now owns 300,265 shares of the asset manager’s stock valued at $83,083,000 after purchasing an additional 53,076 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Affiliated Managers Group by 7.6% in the third quarter. Fisher Asset Management LLC now owns 265,281 shares of the asset manager’s stock valued at $96,989,000 after purchasing an additional 18,818 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

About Affiliated Managers Group

Affiliated Managers Group, Inc. (NYSE: AMG) is a global asset management company that partners with independent investment firms. Founded in 1993, AMG provides its partner firms with strategic capital, distribution support and business resources while allowing them to retain substantial independence over their investment processes and operations. Through its partner firms, AMG offers a range of investment strategies and services, including alternative investments, equities, fixed income, private markets and wealth management.