Affiliated Managers Group (NYSE:AMG) Earns Outperform Rating from Barrington Research

Affiliated Managers Group (NYSE:AMG)‘s stock had its “outperform” rating reaffirmed by investment analysts at Barrington Research in a research note issued on Wednesday, Benzinga reports. They currently have a $210.00 price objective on the asset manager’s stock. Barrington Research’s price target indicates a potential upside of 6.28% from the company’s previous close.

Several other research firms have also weighed in on AMG. StockNews.com lowered shares of Affiliated Managers Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Affiliated Managers Group from $202.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Bank of America raised their target price on Affiliated Managers Group from $200.00 to $201.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, TD Cowen upped their price target on Affiliated Managers Group from $201.00 to $226.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.50.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $197.60 on Wednesday. Affiliated Managers Group has a fifty-two week low of $121.56 and a fifty-two week high of $197.60. The firm’s 50-day simple moving average is $178.97 and its 200 day simple moving average is $167.81. The stock has a market cap of $6.30 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.58 and a beta of 1.20.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results 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 company had revenue of $500.30 million during the quarter, compared to the consensus estimate of $518.03 million. Affiliated Managers Group had a return on equity of 16.50% and a net margin of 31.51%. Affiliated Managers Group’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $4.45 earnings per share. As a group, analysts predict that Affiliated Managers Group will post 21.98 EPS for the current fiscal year.

Insider Buying and Selling at Affiliated Managers Group

In related news, CEO Jay C. Horgen sold 9,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares in the company, valued at approximately $64,883,926.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jay C. Horgen sold 9,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $171.98, for a total transaction of $1,547,820.00. Following the sale, the chief executive officer now directly owns 377,276 shares in the company, valued at $64,883,926.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Rizwan M. Jamal sold 8,622 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $172.89, for a total transaction of $1,490,657.58. Following the completion of the transaction, the insider now owns 128,457 shares of the company’s stock, valued at $22,208,930.73. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,408 shares of company stock valued at $3,865,068 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affiliated Managers Group

Several large investors have recently added to or reduced their stakes in AMG. Altshuler Shaham Ltd bought a new position in Affiliated Managers Group in the 2nd quarter worth about $28,000. UMB Bank n.a. grew its holdings in shares of Affiliated Managers Group by 481.3% during the third quarter. UMB Bank n.a. now owns 186 shares of the asset manager’s stock worth $33,000 after purchasing an additional 154 shares in the last quarter. Denali Advisors LLC increased its position in shares of Affiliated Managers Group by 429.2% in the first quarter. Denali Advisors LLC now owns 254 shares of the asset manager’s stock worth $43,000 after purchasing an additional 206 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Affiliated Managers Group in the second quarter valued at approximately $47,000. Finally, Goodman Advisory Group LLC purchased a new stake in Affiliated Managers Group in the second quarter valued at approximately $50,000. Institutional investors own 95.30% of the company’s stock.

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.