Affiliated Managers Group, Inc. (NYSE:AMG) Stock Has Consensus Price Target of $388.33

Shares of Affiliated Managers Group, Inc. (NYSE:AMG) have received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $388.33.

AMG has been the topic of several recent analyst reports. Weiss Ratings raised shares of Affiliated Managers Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Zacks Research cut shares of Affiliated Managers Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Barrington Research set a $425.00 price target on shares of Affiliated Managers Group in a report on Friday, July 31st. TD Cowen upped their price target on shares of Affiliated Managers Group from $512.00 to $523.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Finally, Wall Street Zen lowered shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th.

Affiliated Managers Group Stock Performance

AMG opened at $388.51 on Friday. The firm has a market cap of $10.05 billion, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 0.51 and a beta of 1.07. Affiliated Managers Group has a 52-week low of $234.23 and a 52-week high of $395.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.24 and a current ratio of 1.24. The business’s fifty day moving average is $367.64 and its 200-day moving average is $341.91.

Affiliated Managers Group (NYSE:AMG) last posted its quarterly earnings results on Thursday, July 30th. The asset manager reported $8.29 EPS for the quarter, beating analysts’ consensus estimates of $7.90 by $0.39. Affiliated Managers Group had a return on equity of 21.94% and a net margin of 37.72%. The business had revenue of $640.70 million during the quarter, compared to the consensus estimate of $590.94 million. During the same quarter in the previous year, the firm earned $5.39 earnings per share. Affiliated Managers Group’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts expect that Affiliated Managers Group will post 36.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMG. BlackRock Inc. acquired a new position in Affiliated Managers Group during the 2nd quarter worth approximately $938,294,000. Dimensional Fund Advisors LP lifted its stake in Affiliated Managers Group by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 718,313 shares of the asset manager’s stock valued at $198,746,000 after purchasing an additional 18,865 shares during the last quarter. Bank of America Corp DE bought a new position in Affiliated Managers Group in the 2nd quarter valued at approximately $146,331,000. Bank of New York Mellon Corp boosted its position in Affiliated Managers Group by 21.5% in the first quarter. Bank of New York Mellon Corp now owns 300,265 shares of the asset manager’s stock valued at $83,083,000 after buying an additional 53,076 shares in the last quarter. Finally, Bruni J V & Co. Co. acquired a new stake in Affiliated Managers Group in the second quarter valued at approximately $71,095,810. 95.30% of the stock is currently owned by institutional investors and hedge funds.

About Affiliated Managers Group

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Rather than managing a single centralized investment platform, AMG provides strategic, operational and distribution support to its affiliates while allowing them to retain their distinct investment philosophies, brands and day-to-day management.

Through its affiliated firms, AMG offers a broad range of investment strategies, including equities, fixed income, alternatives, multi-asset portfolios and wealth management solutions.