Affiliated Managers Group’s (AMG) Buy Rating Reiterated at TD Cowen

Affiliated Managers Group (NYSE:AMG)‘s stock had its “buy” rating reissued by equities researchers at TD Cowen in a report issued on Tuesday, Benzinga reports. They currently have a $512.00 price target on the asset manager’s stock. TD Cowen’s price objective would indicate a potential upside of 39.02% from the stock’s current price.

Several other analysts have also commented on AMG. Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a report on Tuesday, September 22nd. Zacks Research raised Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Barrington Research set a $425.00 target price on Affiliated Managers Group in a research note on Friday, July 31st. Finally, Wall Street Zen cut Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $379.14.

Affiliated Managers Group Stock Down 1.4%

Shares of NYSE AMG opened at $368.29 on Tuesday. The firm has a fifty day simple moving average of $362.83 and a two-hundred day simple moving average of $330.21. Affiliated Managers Group has a 12 month low of $230.10 and a 12 month high of $392.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $9.52 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.51 and a beta of 1.10.

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

Institutional Investors Weigh In On Affiliated Managers Group

A number of institutional investors have recently modified their holdings of AMG. GAMMA Investing LLC raised its stake in Affiliated Managers Group by 2.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,593 shares of the asset manager’s stock worth $539,000 after acquiring an additional 34 shares during the last quarter. Wedmont Private Capital lifted its holdings in Affiliated Managers Group by 5.3% in the second quarter. Wedmont Private Capital now owns 771 shares of the asset manager’s stock valued at $283,000 after acquiring an additional 39 shares during the period. Parallel Advisors LLC lifted its stake in shares of Affiliated Managers Group by 4.3% in the 1st quarter. Parallel Advisors LLC now owns 1,016 shares of the asset manager’s stock valued at $281,000 after purchasing an additional 42 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Affiliated Managers Group by 45.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after acquiring an additional 56 shares in the last quarter. Finally, WealthCollab LLC boosted its position in Affiliated Managers Group by 40.5% during the first quarter. WealthCollab LLC now owns 229 shares of the asset manager’s stock worth $63,000 after purchasing an additional 66 shares in the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc (NYSE:AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG’s affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.