Affiliated Managers Group (NYSE:AMG) Rating Lowered to Hold at Wall Street Zen

Affiliated Managers Group (NYSE:AMG) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also weighed in on AMG. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 14th. UBS Group set a $295.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Affiliated Managers Group in a research note on Wednesday, October 8th. Bank of America lifted their target price on Affiliated Managers Group to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Barrington Research increased their price target on Affiliated Managers Group from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $290.33.

Affiliated Managers Group Trading Down 1.2%

NYSE:AMG opened at $276.88 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $253.68 and its two-hundred day moving average is $226.47. Affiliated Managers Group has a 52 week low of $139.22 and a 52 week high of $283.21. The company has a market cap of $7.79 billion, a PE ratio of 16.49, a P/E/G ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, November 3rd. The asset manager reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.88 by $0.22. The business had revenue of $528.00 million during the quarter, compared to the consensus estimate of $543.39 million. Affiliated Managers Group had a return on equity of 16.75% and a net margin of 26.01%.The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $4.82 EPS. On average, analysts predict that Affiliated Managers Group will post 22.86 EPS for the current year.

Institutional Trading of Affiliated Managers Group

Several large investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Affiliated Managers Group by 428.0% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 132 shares of the asset manager’s stock worth $26,000 after acquiring an additional 107 shares during the period. Root Financial Partners LLC bought a new stake in shares of Affiliated Managers Group during the third quarter valued at about $33,000. Meeder Asset Management Inc. acquired a new stake in Affiliated Managers Group in the third quarter worth about $34,000. Hantz Financial Services Inc. lifted its holdings in Affiliated Managers Group by 189.8% in the third quarter. Hantz Financial Services Inc. now owns 142 shares of the asset manager’s stock worth $34,000 after purchasing an additional 93 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Affiliated Managers Group in the 1st quarter valued at about $36,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.