Affiliated Managers Group (NYSE:AMG) Earns Buy Rating from TD Cowen

Affiliated Managers Group (NYSE:AMG)‘s stock had its “buy” rating reiterated by equities research analysts at TD Cowen in a report issued on Tuesday, MarketBeat.com reports. They currently have a $512.00 target price on the asset manager’s stock. TD Cowen’s price objective would indicate a potential upside of 38.09% from the stock’s current price.

A number of other analysts have also issued reports on AMG. Weiss Ratings reissued a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Tuesday, September 22nd. Barrington Research set a $425.00 target price on shares of Affiliated Managers Group in a research note on Friday, July 31st. Zacks Research upgraded Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen downgraded Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. 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, Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus target price of $379.14.

Affiliated Managers Group Trading Up 0.7%

AMG stock opened at $370.77 on Tuesday. The firm has a fifty day moving average price of $363.43 and a 200 day moving average price of $330.83. Affiliated Managers Group has a fifty-two week low of $230.10 and a fifty-two week high of $392.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $9.59 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 0.50 and a beta of 1.10.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, topping the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. Affiliated Managers Group’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.39 earnings per share. Sell-side analysts anticipate that Affiliated Managers Group will post 36.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Affiliated Managers Group

Several hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. purchased a new stake in Affiliated Managers Group in the 2nd quarter worth approximately $225,000. Tidal Investments LLC lifted its position in shares of Affiliated Managers Group by 129.8% during the 2nd quarter. Tidal Investments LLC now owns 6,355 shares of the asset manager’s stock valued at $2,151,000 after buying an additional 3,589 shares in the last quarter. Engineers Gate Manager LP lifted its position in shares of Affiliated Managers Group by 161.4% during the 2nd quarter. Engineers Gate Manager LP now owns 51,861 shares of the asset manager’s stock valued at $17,550,000 after buying an additional 32,023 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Affiliated Managers Group during the 2nd quarter valued at approximately $61,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Affiliated Managers Group by 131.7% during the second quarter. Squarepoint Ops LLC now owns 17,642 shares of the asset manager’s stock worth $5,970,000 after buying an additional 10,029 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.