Affiliated Managers Group (NYSE:AMG) had its target price lowered by Citigroup from $105.00 to $101.00 in a research note published on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Several other research firms have also recently issued reports on AMG. Barrington Research reaffirmed a buy rating and set a $135.00 price target on shares of Affiliated Managers Group in a research note on Tuesday, April 30th. Deutsche Bank set a €230.00 ($267.44) target price on shares of adidas and gave the stock a neutral rating in a research report on Tuesday, May 7th. Bank of America set a $20.00 target price on shares of Fiat Chrysler Automobiles and gave the stock a hold rating in a research report on Thursday, June 6th. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 1st. Finally, Zacks Investment Research cut shares of Haynes International from a hold rating to a sell rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $123.11.

Affiliated Managers Group stock opened at $91.02 on Tuesday. Affiliated Managers Group has a 12-month low of $83.10 and a 12-month high of $163.55. The firm has a market cap of $4.64 billion, a PE ratio of 6.28, a P/E/G ratio of 0.65 and a beta of 1.63. The business’s 50-day moving average price is $88.82.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, May 6th. The asset manager reported $3.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.27 by ($0.01). Affiliated Managers Group had a positive return on equity of 17.72% and a negative net margin of 4.77%. The firm had revenue of $543.10 million for the quarter, compared to analyst estimates of $541.42 million. During the same period in the prior year, the business earned $3.92 earnings per share. Affiliated Managers Group’s revenue for the quarter was down 11.3% on a year-over-year basis. Sell-side analysts anticipate that Affiliated Managers Group will post 13.64 EPS for the current year.

In related news, Director Jide James Zeitlin sold 54,350 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $92.22, for a total value of $5,012,157.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jay C. Horgen purchased 11,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $93.19 per share, for a total transaction of $1,025,090.00. Following the acquisition, the insider now directly owns 115,527 shares of the company’s stock, valued at approximately $10,765,961.13. The disclosure for this purchase can be found here. 1.43% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AMG. Osborn Williams & Donohoe LLC bought a new stake in shares of Affiliated Managers Group in the first quarter worth $39,000. CSat Investment Advisory L.P. increased its stake in shares of Affiliated Managers Group by 173.5% in the fourth quarter. CSat Investment Advisory L.P. now owns 517 shares of the asset manager’s stock worth $50,000 after buying an additional 328 shares during the last quarter. Covington Capital Management bought a new stake in shares of Affiliated Managers Group in the fourth quarter worth $52,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Affiliated Managers Group by 20.0% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 601 shares of the asset manager’s stock worth $59,000 after buying an additional 100 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in shares of Affiliated Managers Group by 17.3% in the fourth quarter. Advisor Group Inc. now owns 996 shares of the asset manager’s stock worth $98,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 94.65% 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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