Keefe, Bruyette & Woods restated their buy rating on shares of Affiliated Managers Group, Inc. (NYSE:AMG) in a research report released on Thursday morning. The firm currently has a $229.00 target price on the asset manager’s stock.

Several other equities research analysts also recently issued reports on AMG. ValuEngine upgraded shares of Affiliated Managers Group from a hold rating to a buy rating in a research note on Tuesday, June 27th. BidaskClub upgraded shares of Affiliated Managers Group from a hold rating to a buy rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded shares of Affiliated Managers Group from a hold rating to a buy rating and set a $186.00 price objective for the company in a research note on Tuesday, July 4th. Credit Suisse Group reiterated a buy rating and set a $207.00 price objective on shares of Affiliated Managers Group in a research note on Sunday, July 9th. Finally, Jefferies Group LLC reiterated a buy rating and set a $200.00 price objective on shares of Affiliated Managers Group in a research note on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Affiliated Managers Group presently has a consensus rating of Buy and a consensus target price of $207.25.

Shares of Affiliated Managers Group (NYSE:AMG) opened at 193.55 on Thursday. The firm’s 50-day moving average is $184.12 and its 200-day moving average is $170.54. Affiliated Managers Group has a 12-month low of $130.48 and a 12-month high of $196.77. The firm has a market capitalization of $10.83 billion, a price-to-earnings ratio of 21.44 and a beta of 1.66.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Monday, July 31st. The asset manager reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $0.09. Affiliated Managers Group had a net margin of 22.99% and a return on equity of 17.45%. The company had revenue of $570.90 million during the quarter, compared to the consensus estimate of $573.73 million. During the same period in the previous year, the firm earned $3.07 earnings per share. Affiliated Managers Group’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts forecast that Affiliated Managers Group will post $14.48 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. OppenheimerFunds Inc. lifted its position in shares of Affiliated Managers Group by 0.4% during the first quarter. OppenheimerFunds Inc. now owns 1,935 shares of the asset manager’s stock worth $317,000 after purchasing an additional 7 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Affiliated Managers Group by 0.4% during the second quarter. Stephens Inc. AR now owns 2,247 shares of the asset manager’s stock worth $373,000 after purchasing an additional 9 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Affiliated Managers Group by 0.7% during the second quarter. Contravisory Investment Management Inc. now owns 1,621 shares of the asset manager’s stock worth $269,000 after purchasing an additional 11 shares in the last quarter. Somerset Trust Co lifted its position in shares of Affiliated Managers Group by 0.4% during the second quarter. Somerset Trust Co now owns 3,779 shares of the asset manager’s stock worth $627,000 after purchasing an additional 16 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. lifted its position in shares of Affiliated Managers Group by 2.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 755 shares of the asset manager’s stock worth $125,000 after purchasing an additional 16 shares in the last quarter. 96.27% of the stock is currently owned by institutional investors and hedge funds.

About Affiliated Managers Group

Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms. The Company operates in three segments, which represent its principal distribution channels: Institutional, Mutual Fund and High Net Worth. The equity method investments in the Institutional distribution channel are made in relationships with public and private client entities, including foundations, endowments, sovereign wealth funds and retirement plans for corporations and municipalities.

Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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