Credit Suisse Group Reaffirms “Hold” Rating for Affiliated Managers Group (AMG)
Credit Suisse Group reissued their hold rating on shares of Affiliated Managers Group (NYSE:AMG) in a research report report published on Friday. The firm currently has a $215.00 price target on the asset manager’s stock.
Several other analysts also recently commented on AMG. Zacks Investment Research upgraded shares of Affiliated Managers Group from a hold rating to a buy rating and set a $213.00 target price for the company in a report on Monday, October 2nd. Barrington Research reiterated an outperform rating and issued a $215.00 target price on shares of Affiliated Managers Group in a report on Wednesday, October 4th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a buy rating and issued a $229.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Jefferies Group reiterated a buy rating and issued a $226.00 target price on shares of Affiliated Managers Group in a report on Thursday, October 12th. Finally, Goldman Sachs Group downgraded shares of Affiliated Managers Group from a buy rating to a neutral rating and set a $216.00 target price for the company. in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $211.00.
Shares of Affiliated Managers Group (AMG) traded up $2.08 during mid-day trading on Friday, hitting $202.80. 245,522 shares of the stock traded hands, compared to its average volume of 279,645. The stock has a market capitalization of $11,270.00, a P/E ratio of 21.95, a P/E/G ratio of 0.72 and a beta of 1.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.61. Affiliated Managers Group has a 52 week low of $139.52 and a 52 week high of $207.67.
In related news, CEO Sean M. Healey sold 69,800 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $185.48, for a total transaction of $12,946,504.00. Following the completion of the sale, the chief executive officer now owns 194,943 shares in the company, valued at $36,158,027.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter W. Macewen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $197.67, for a total transaction of $1,976,700.00. Following the sale, the insider now owns 37,682 shares of the company’s stock, valued at approximately $7,448,600.94. The disclosure for this sale can be found here. Insiders have sold 89,585 shares of company stock valued at $16,734,012 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tributary Capital Management LLC purchased a new stake in Affiliated Managers Group during the third quarter worth about $100,000. Advisor Group Inc. increased its stake in shares of Affiliated Managers Group by 46.2% in the second quarter. Advisor Group Inc. now owns 722 shares of the asset manager’s stock worth $120,000 after purchasing an additional 228 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Affiliated Managers Group by 7.9% in the second quarter. Pacer Advisors Inc. now owns 1,183 shares of the asset manager’s stock worth $196,000 after purchasing an additional 87 shares in the last quarter. Douglas Lane & Associates LLC purchased a new position in shares of Affiliated Managers Group in the third quarter worth about $200,000. Finally, Conning Inc. purchased a new position in shares of Affiliated Managers Group in the third quarter worth about $203,000. Institutional investors and hedge funds own 95.65% of the company’s stock.
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Affiliated Managers Group Company Profile
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.
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