Jefferies Group Lowers Affiliated Managers Group Inc. (AMG) Price Target to $193.00
Affiliated Managers Group Inc. (NYSE:AMG) had its target price lowered by stock analysts at Jefferies Group from $195.00 to $193.00 in a report released on Tuesday. The firm currently has a “buy” rating on the stock. Jefferies Group’s price objective indicates a potential upside of 27.59% from the stock’s current price.
Several other equities research analysts have also commented on the company. Capital One Financial Corp. reiterated a “buy” rating and set a $188.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, October 5th. Deutsche Bank AG boosted their price objective on Affiliated Managers Group from $186.00 to $188.00 and gave the stock a “buy” rating in a research note on Wednesday, October 5th. Zacks Investment Research upgraded Affiliated Managers Group from a “sell” rating to a “buy” rating and set a $164.00 price target for the company in a research report on Tuesday, October 4th. Finally, Credit Suisse Group AG set a $212.00 price target on Affiliated Managers Group and gave the company a “buy” rating in a research report on Wednesday, September 28th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $179.75.
Affiliated Managers Group (NYSE:AMG) traded down 2.76% on Tuesday, reaching $147.10. The company’s stock had a trading volume of 392,050 shares. Affiliated Managers Group has a 52 week low of $115.97 and a 52 week high of $190.74. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 17.11 and a beta of 1.56. The company has a 50 day moving average of $144.77 and a 200 day moving average of $153.51.
Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings data on Monday, August 1st. The company reported $3.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.05. Affiliated Managers Group had a return on equity of 18.39% and a net margin of 20.47%. The company earned $646.60 million during the quarter, compared to analyst estimates of $565.16 million. During the same period in the previous year, the business earned $3.08 EPS. Affiliated Managers Group’s quarterly revenue was down 14.3% on a year-over-year basis. On average, analysts forecast that Affiliated Managers Group will post $12.85 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jackson Square Partners LLC boosted its position in Affiliated Managers Group by 14.8% in the first quarter. Jackson Square Partners LLC now owns 742,972 shares of the company’s stock worth $120,658,000 after buying an additional 95,592 shares during the period. Riverhead Capital Management LLC boosted its position in Affiliated Managers Group by 12.0% in the first quarter. Riverhead Capital Management LLC now owns 17,214 shares of the company’s stock worth $2,796,000 after buying an additional 1,845 shares during the period. Barr E S & Co. boosted its position in Affiliated Managers Group by 15.2% in the first quarter. Barr E S & Co. now owns 143,469 shares of the company’s stock worth $23,299,000 after buying an additional 18,922 shares during the period. Pictet Asset Management Ltd. boosted its position in Affiliated Managers Group by 3.5% in the first quarter. Pictet Asset Management Ltd. now owns 29,415 shares of the company’s stock worth $4,080,000 after buying an additional 1,000 shares during the period. Finally, Rafferty Asset Management LLC boosted its position in Affiliated Managers Group by 49.0% in the first quarter. Rafferty Asset Management LLC now owns 7,214 shares of the company’s stock worth $1,172,000 after buying an additional 2,373 shares during the period.
Affiliated Managers Group Company Profile
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.
Receive News & Stock Ratings for Affiliated Managers Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affiliated Managers Group Inc. and related stocks with our FREE daily email newsletter.