Affiliated Managers Group (NYSE:AMG) Rating Lowered to “Neutral” at The Goldman Sachs Group

Affiliated Managers Group (NYSE:AMG) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat Ratings reports. They presently have a $191.00 price objective on the asset manager’s stock, down from their prior price objective of $193.00. The Goldman Sachs Group’s target price would suggest a potential upside of 5.88% from the stock’s current price.

A number of other brokerages also recently commented on AMG. TD Cowen downgraded Affiliated Managers Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $226.00 to $177.00 in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Affiliated Managers Group from $204.00 to $208.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Barrington Research cut their price objective on shares of Affiliated Managers Group from $210.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $195.40.

Affiliated Managers Group Stock Performance

Shares of AMG opened at $180.40 on Monday. The firm has a fifty day moving average of $186.07 and a 200-day moving average of $177.71. The company has a market cap of $5.45 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 0.69 and a beta of 1.15. Affiliated Managers Group has a 1 year low of $145.36 and a 1 year high of $199.52.

Affiliated Managers Group (NYSE:AMG) last posted its earnings results on Monday, November 4th. The asset manager reported $4.82 EPS for the quarter, missing the consensus estimate of $4.84 by ($0.02). The business had revenue of $525.20 million during the quarter, compared to analyst estimates of $521.87 million. Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.08 earnings per share. Analysts predict that Affiliated Managers Group will post 20.91 EPS for the current year.

Institutional Trading of Affiliated Managers Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc raised its position in shares of Affiliated Managers Group by 0.6% during the second quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager’s stock valued at $1,547,000 after buying an additional 60 shares during the last quarter. Covestor Ltd raised its holdings in Affiliated Managers Group by 21.4% in the 3rd quarter. Covestor Ltd now owns 471 shares of the asset manager’s stock valued at $84,000 after acquiring an additional 83 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Affiliated Managers Group by 1.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager’s stock worth $838,000 after acquiring an additional 90 shares during the period. GAMMA Investing LLC grew its holdings in shares of Affiliated Managers Group by 11.8% during the 4th quarter. GAMMA Investing LLC now owns 888 shares of the asset manager’s stock worth $164,000 after purchasing an additional 94 shares in the last quarter. Finally, Kendall Capital Management grew its holdings in shares of Affiliated Managers Group by 2.5% during the 2nd quarter. Kendall Capital Management now owns 4,135 shares of the asset manager’s stock worth $646,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds 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.