Affiliated Managers Group (NYSE:AMG) was downgraded by Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued on Thursday, Marketbeat reports. They currently have a $106.00 price objective on the asset manager’s stock, down from their previous price objective of $158.00. Deutsche Bank’s target price would indicate a potential upside of 3.81% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Barrington Research restated a “buy” rating and issued a $135.00 target price on shares of Affiliated Managers Group in a report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research cut shares of Affiliated Managers Group from a “hold” rating to a “sell” rating in a report on Tuesday. Citigroup dropped their target price on shares of Affiliated Managers Group from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Finally, Bank of America restated a “buy” rating and issued a $130.00 target price (down previously from $155.00) on shares of Affiliated Managers Group in a report on Thursday, December 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $161.43.

Shares of AMG stock opened at $102.11 on Thursday. Affiliated Managers Group has a 12-month low of $88.46 and a 12-month high of $216.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.49. The company has a market capitalization of $5.45 billion, a P/E ratio of 6.99, a P/E/G ratio of 0.66 and a beta of 1.45.

Affiliated Managers Group (NYSE:AMG) last issued its earnings results on Monday, October 29th. The asset manager reported $3.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.42 by $0.03. Affiliated Managers Group had a net margin of 29.38% and a return on equity of 19.37%. The company had revenue of $601.30 million for the quarter, compared to analysts’ expectations of $604.82 million. During the same quarter last year, the company posted $3.41 earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Affiliated Managers Group will post 14.72 EPS for the current year.

In other Affiliated Managers Group news, EVP Hugh Cutler purchased 1,564 shares of the firm’s stock in a transaction on Wednesday, October 31st. The shares were acquired at an average cost of $115.48 per share, for a total transaction of $180,610.72. Following the completion of the transaction, the executive vice president now owns 7,087 shares of the company’s stock, valued at $818,406.76. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dwight D. Churchill sold 2,034 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $110.53, for a total transaction of $224,818.02. Following the completion of the transaction, the director now owns 6,522 shares in the company, valued at $720,876.66. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMG. Cornerstone Wealth Management LLC raised its position in Affiliated Managers Group by 24.5% in the third quarter. Cornerstone Wealth Management LLC now owns 28,925 shares of the asset manager’s stock worth $149,000 after acquiring an additional 5,698 shares during the period. Zions Bancorporation bought a new position in Affiliated Managers Group in the third quarter worth approximately $170,000. Trust Co. of Toledo NA OH bought a new position in Affiliated Managers Group in the third quarter worth approximately $202,000. Candriam Luxembourg S.C.A. bought a new position in Affiliated Managers Group in the third quarter worth approximately $204,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Affiliated Managers Group in the third quarter worth approximately $223,000. Institutional investors and hedge funds own 92.13% of the company’s stock.

About Affiliated Managers Group

Affiliated Managers Group, Inc, through its affiliates, operates as an asset management company providing investment management services to mutual funds, institutional clients, and high net worth individuals in the United States. It provides advisory or subadvisory services to mutual funds. These funds are distributed to retail and institutional clients directly and through intermediaries, including independent investment advisors, retirement plan sponsors, broker-dealers, major fund marketplaces, and bank trust departments.

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Analyst Recommendations for Affiliated Managers Group (NYSE:AMG)

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