Zacks Research Downgrades Affiliated Managers Group (NYSE:AMG) to Hold

Affiliated Managers Group (NYSE:AMG) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 30th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a research note on Friday, July 31st. TD Cowen reissued a “buy” rating and set a $512.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Tuesday, September 22nd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.14.

Affiliated Managers Group Trading Down 1.4%

NYSE:AMG opened at $365.42 on Tuesday. The company has a market capitalization of $9.45 billion, a PE ratio of 12.66, a P/E/G ratio of 0.50 and a beta of 1.10. Affiliated Managers Group has a 52-week low of $230.10 and a 52-week high of $392.92. The stock’s 50 day moving average price is $363.80 and its 200 day moving average price is $331.51. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.76.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. The company had revenue of $640.70 million during the quarter, compared to analysts’ expectations of $590.94 million. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%.The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.39 earnings per share. On average, research analysts anticipate that Affiliated Managers Group will post 36.69 EPS for the current year.

Institutional Investors Weigh In On Affiliated Managers Group

Hedge funds have recently modified their holdings of the stock. Danske Bank A S purchased a new position in Affiliated Managers Group during the 2nd quarter worth $622,000. Bank of America Corp DE purchased a new stake in shares of Affiliated Managers Group in the second quarter valued at about $146,331,000. Sei Investments Co. boosted its holdings in shares of Affiliated Managers Group by 5.2% in the first quarter. Sei Investments Co. now owns 107,654 shares of the asset manager’s stock valued at $29,787,000 after acquiring an additional 5,357 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Affiliated Managers Group during the second quarter worth about $13,432,000. Finally, Tidal Investments LLC increased its stake in shares of Affiliated Managers Group by 129.8% during the second quarter. Tidal Investments LLC now owns 6,355 shares of the asset manager’s stock worth $2,151,000 after acquiring an additional 3,589 shares during the period. 95.30% of the stock is owned by institutional investors and hedge funds.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that invests in and partners with a diverse group of boutique investment management firms. AMG provides strategic support, distribution resources, technology, and other business services while allowing its affiliated managers to retain substantial autonomy over their investment processes, brands, and day-to-day operations.

Through its affiliated firms, AMG offers a broad range of investment strategies across public and private markets.