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

Affiliated Managers Group (NYSE:AMG)‘s stock had its “buy” rating reiterated by research analysts at TD Cowen in a research note issued to investors on Tuesday, MarketBeat.com 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 38.09% from the company’s current price.

AMG has been the topic of a number of other reports. Barrington Research set a $425.00 price objective on shares of Affiliated Managers Group in a research note on Friday, July 31st. Zacks Research upgraded shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Affiliated Managers Group in a report on Tuesday, September 22nd. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat.com, Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus price target of $379.14.

Affiliated Managers Group Price Performance

Shares of NYSE:AMG traded up $2.64 on Tuesday, reaching $370.77. 303,688 shares of the company were exchanged, compared to its average volume of 344,512. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.76. Affiliated Managers Group has a 1-year low of $230.10 and a 1-year high of $392.92. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 0.51 and a beta of 1.10. The company has a 50-day moving average of $362.83 and a 200-day moving average of $330.21.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, topping 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 business had revenue of $640.70 million for the quarter, compared to analysts’ expectations of $590.94 million. During the same period in the prior year, the company posted $5.39 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts forecast that Affiliated Managers Group will post 36.69 earnings per share for the current fiscal year.

Institutional Trading of Affiliated Managers Group

Hedge funds have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC acquired a new stake in shares of Affiliated Managers Group during the second quarter worth approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Affiliated Managers Group during the second quarter worth approximately $48,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Affiliated Managers Group during the fourth quarter worth approximately $42,000. EverSource Wealth Advisors LLC grew its position in shares of Affiliated Managers Group by 45.5% during the first quarter. EverSource Wealth Advisors LLC now owns 179 shares of the asset manager’s stock worth $50,000 after buying an additional 56 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Affiliated Managers Group during the second quarter worth approximately $61,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.