Affiliated Managers Group, Inc. (NYSE:AMG) Given Average Recommendation of “Hold” by Brokerages

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have earned an average rating of “Hold” from the five brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $198.40.

Several brokerages have commented on AMG. Deutsche Bank Aktiengesellschaft upped their target price on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen lowered Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their target price for the company from $226.00 to $177.00 in a research note on Tuesday, November 5th. Barrington Research raised their target price on Affiliated Managers Group from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, The Goldman Sachs Group cut Affiliated Managers Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $193.00 to $191.00 in a research note on Monday, January 6th.

Affiliated Managers Group Stock Up 0.1 %

Shares of AMG stock opened at $182.63 on Friday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.69 and a beta of 1.15. Affiliated Managers Group has a 12 month low of $147.13 and a 12 month high of $199.52. The stock has a 50-day moving average price of $185.22 and a 200 day moving average price of $181.11.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Thursday, February 6th. The asset manager reported $6.53 EPS for the quarter, topping the consensus estimate of $6.03 by $0.50. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. Sell-side analysts predict that Affiliated Managers Group will post 20.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can grew its position in shares of Affiliated Managers Group by 30.7% in the 2nd quarter. Bank of Montreal Can now owns 16,454 shares of the asset manager’s stock valued at $2,642,000 after purchasing an additional 3,867 shares during the period. Millennium Management LLC boosted its holdings in shares of Affiliated Managers Group by 7.9% in the second quarter. Millennium Management LLC now owns 104,297 shares of the asset manager’s stock valued at $16,294,000 after buying an additional 7,613 shares during the period. Mackenzie Financial Corp increased its position in shares of Affiliated Managers Group by 22.9% during the second quarter. Mackenzie Financial Corp now owns 5,679 shares of the asset manager’s stock worth $887,000 after acquiring an additional 1,059 shares in the last quarter. Creative Planning raised its holdings in shares of Affiliated Managers Group by 4.5% during the second quarter. Creative Planning now owns 6,483 shares of the asset manager’s stock worth $1,013,000 after acquiring an additional 281 shares during the period. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Affiliated Managers Group during the second quarter worth $818,000. 95.30% of the stock is 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.