Affiliated Managers Group (NYSE:AMG) Given New $201.00 Price Target at Bank of America

Affiliated Managers Group (NYSE:AMG) had its price target lifted by Bank of America from $200.00 to $201.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Bank of America‘s price target indicates a potential upside of 10.08% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Affiliated Managers Group from $188.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen raised their price target on shares of Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barrington Research lifted their target price on shares of Affiliated Managers Group from $190.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.20.

Affiliated Managers Group Trading Down 0.7 %

AMG traded down $1.31 on Tuesday, hitting $182.59. 102,185 shares of the company’s stock were exchanged, compared to its average volume of 265,015. The stock has a fifty day moving average of $160.64 and a two-hundred day moving average of $159.08. Affiliated Managers Group has a twelve month low of $120.22 and a twelve month high of $187.29. The firm has a market cap of $5.82 billion, a PE ratio of 10.14, a P/E/G ratio of 0.62 and a beta of 1.22.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, July 29th. The asset manager reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.60 by $0.07. The business had revenue of $500.30 million for the quarter, compared to analyst estimates of $518.03 million. Affiliated Managers Group had a net margin of 33.74% and a return on equity of 16.66%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $4.45 earnings per share. On average, analysts predict that Affiliated Managers Group will post 21.59 EPS for the current year.

Hedge Funds Weigh In On Affiliated Managers Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blair William & Co. IL lifted its position in shares of Affiliated Managers Group by 0.5% during the first quarter. Blair William & Co. IL now owns 12,924 shares of the asset manager’s stock worth $2,164,000 after purchasing an additional 69 shares in the last quarter. Forte Capital LLC ADV lifted its holdings in Affiliated Managers Group by 4.5% in the fourth quarter. Forte Capital LLC ADV now owns 1,641 shares of the asset manager’s stock valued at $248,000 after buying an additional 70 shares during the period. Lindbrook Capital LLC lifted its holdings in Affiliated Managers Group by 80.0% in the fourth quarter. Lindbrook Capital LLC now owns 162 shares of the asset manager’s stock valued at $25,000 after buying an additional 72 shares during the period. M&T Bank Corp lifted its holdings in Affiliated Managers Group by 3.5% in the fourth quarter. M&T Bank Corp now owns 2,184 shares of the asset manager’s stock valued at $331,000 after buying an additional 74 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Affiliated Managers Group by 17.1% in the fourth quarter. Blue Trust Inc. now owns 617 shares of the asset manager’s stock valued at $93,000 after buying an additional 90 shares during the period. 95.30% of the stock is currently owned by institutional investors and hedge funds.

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.